instagram.com/reesewitherspoon | Getty Images

Actress Reese Witherspoon Buys Cryptocurrency Adding to Her Extensive Investment Portfolio

Sep 10, 2021

06:30 A.M.

The entrepreneur is expanding her wealth by dipping her coins into crypto as an investment and even sold her media business company for a huge sum of money.

Reese Witherspoon took to Twitter on Thursday, September 2, to announce her bold move in buying her very first Ethereum and tweeted:

“Just bought my first ETH! Let’s do this#cryptotwitter."

Reese Witherspoon attends 2020 Vanity Fair Oscar Party at Wallis Annenberg Center for the Performing Arts on February 09, 2020 in Beverly Hills, California, the next photo shows the actress posing outdoors while smiling | Photo: Getty Images and Instagram/@reesewitherspoon

GOING CRYPTO

Instantly, Twitter users began commenting on her purchase of Ethereum, which has doubled almost in price in the past month.

Some were skeptical about the "Big Little Lies" alum's investment choice, while others dropped their two cents advice on the route she should have taken instead.

Reese Witherspoon hosts the Elizabeth Arden Garden Party at Private Residence on May 15, 2019 in Beverly Hills, California | Photo: Getty Images

One user was more eager to learn why Witherspoon is interested in ETH and blatantly asked the genuine question directed to the Lousiana native.

“Welcome to #cryptotwitter! If you’re interested in the largest social impact movement on the blockchain, stop by! $3.5M donated in crypto and counting!” one user retweeted.

COMPANY SALE

Witherspoon recently sold Hello Sunshine after five years for a reported $900 million. The 45-year-old launched the media company back in 2016.

Along with the business, she also launched podcasts and a well-loved book club, and the company also helped produce big TV shows such as "Big Little Lies and "The Morning Show."

The company was bought by a new venture between private equity giant Blackstone Group, including former Disney execs Kevin Mayer and Tom Staggs.

The deal came as video streaming competition arose between Netflix Inc, Walt Disney Co's Disney +, and AT&T Inc's HBO's Max, which forced the companies to spend billions on content.

The global head of private equity at Blackstone, Joe Baratta, released a statement saying the rapidly growing demand for high-quality content is one of the firm's highest-conviction investment themes.

As for Hello Sunshine, its board will include Witherspoon and its Chief Executive Sarah Harden, who will continue to oversee the day-to-day operations. The pair will also remain equity holders of the production house.