Rapper Drake has been very open with his dealings in bitcoin lately. The Canadian rapper who has gained superstardom continues to increase his involvement with the digital asset. He recently send some bitcoin to fellow rapper Kodak Black, officially introducing the latter to the cryptocurrency, who admitted that he had never used the digital asset before until Drake introduced it to him.
Drake Being Generous With Bitcoin
Kodak Black was on “The Breakfast Club” on Wednesday where he revealed the generous gift his industry colleague had given to him. According to Kodak, rapper Drake had called him up and asked him if he had any bitcoin. When Kodak had responded in the negative, Drake had promptly told him to go set up a bitcoin account. Kodak, knowing his colleague, knew something was up and went to set up a bitcoin wallet even though he had never used it before.
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“This n*** text me like ‘You got bitcoin?’ I was like ‘Nah.’ He was like ‘Set up a bitcoin then.’ So you know, I’m like, ok, I’m putting two and two together, that’s four, you know what I’m sayin’?” Kodak told The Breakfast Club.
BTC still trading below $40,000 | Source: BTCUSD on TradingView.com
Rapper Kodak had finally set up the wallet after much pestering by Drake. Once the amount was set up and good to go, Drake had asked Kodak to send over his bitcoin wallet. The rapper admitted to being surprised and confused at this request but had done it anyway.
Not long after, Kodak said he received 6.6 BTC from Drake, which was worth almost $250,000 at the time. Kodak revealed in the interview that he had no plans of selling the generous gift. He intends to hold the digital asset for the long-term while it appreciates over time.
Winning Big At The Super Bowl
Drake has been heavily involved in the bitcoin gambling space. He has at various times in the past placed bets using the digital asset running into the millions of dollars. About two weeks ago, Bitcoinist reported that the rapper had placed bets of almost $1.5 million ahead of the Super Bowl weekend, betting heavily for his team, the Los Angeles Rams, to win, and star Odell Beckham Jr. covering over 62.5 receiving yards and scoring a touchdown.
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Due to an injury sustained on the field, the rapper had lost the bets on Beckham. But had gone on to win other bets as the L.A. Rams did in fact come out victorious in the games.
Despite losing on some of his bets, Drake still came out in profit on his bets. Going by the figures the rapper posted on his Instagram page, Drake would’ve still made over $380K on his bets.
Featured image from HipHopDX, chart from TradingView.com