Drake's Bitcoin Views: Volatility and Investments
Drake Compares Friends to Bitcoin Volatility
In his new track, "What Did I Miss," Drake likens unreliable friends to Bitcoin's price fluctuations, rapping, "Could be down this week, then I’m up next week." This isn't Drake's first foray into the crypto conversation; he's become a prominent figure in the cryptocurrency community.
Drake's Crypto Journey
- High-Profile Promotion: He previously shared a video of Michael Saylor on Instagram, boasting over 146 million followers, where Saylor predicted Bitcoin would surpass gold.
- Significant Losses: Drake has publicly reported losses exceeding $1 million on Bitcoin bets related to the Dallas Mavericks, Edmonton Oilers, UFC fights, and Formula 1 races. This led to the humorous "Drake Curse" meme, which he acknowledged.
- Stake Partnership: He's partnered with the crypto gambling platform Stake in a deal reportedly worth $100 million annually.
- Direct Investments: Drake has also invested in crypto firms such as MoonPay and showcased hardware wallets on social media.
His latest commentary on Bitcoin's volatility arrives at a time when the Deribit Bitcoin Volatility Index (DVOL) has reached a two-year low of 38, suggesting a period of relative calm in the market.
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