Drake is not the only celebrity to have lost money from bitcoin. In 2017, NBA player Kyrie Irving wired $200K worth of bitcoins on a bet that he would score 50 points in an upcoming game. However, due to a technicality, he was unable to play because his team had already finished their season and were eliminated. But it wasn’t just celebrities who were losing out on bitcoin; Canadian rapper Drake also said that while he’s seen “big returns” with cryptocurrencies like Bitcoin and Etherium, one bad decision has cost him over US$275 000 worth of digital currency by betting against UFC fighter Daniel Cormier at -110 odds.,
Drake, a rapper from Canada, lost $275,000 worth of Bitcoin on a UFC fight bet. The rapper’s net worth is estimated to be around $200 million.
Drake, whose real name is Aubrey Drake Graham, reportedly put $275,000 in Bitcoin on a UFC bout between Colby Covingto and Jorge Masvidal. He chose the latter as the winner.
The bout took place at the T-Mobile Arena in Las Vegas on Saturday. Masvidal, who was the underdog in the bout, unfortunately lost. Drake would have profited more than $700,000 if Masvidal had won the match.
This time, Drake loses.
This isn’t the first time the Canadian celebrity has gambled with Bitcoin. He earned more than $400,000 in Bitcoin last month after wagering $1.3 million on three Super Bowl LVI wagers. Because the Cincinnati Bengals fell to the Los Angeles Rams, the Rapper was able to profit handsomely on his wager.
He bet $472,000 on the Los Angeles Rams to win the Super Bowl, $400,000 on Odell Beckham Jr. (OBJ) to have at least 62.5 receiving yards, and $400,000 on the player to score a touchdown. Following that, the LA squad was victorious, earning Drake almost $240,000 in Bitcoin. He was also paid an extra $450,000 when OBJ scored the game’s first touchdown.
However, owing to an injury, OBJ was unable to finish the game. As a consequence, he failed to gather more than 62.5 receiving yards, meaning Drake lost one of his three wagers. Overall, he won a significant quantity of Bitcoin as a result of his wager.
Stake, an online cryptocurrency betting firm, has partnered with Drake.
After announcing his connection with the online crypto betting site Stake, Drake may have a promotional motivation for making these bets.
Last week, Drake revealed a new crypto betting relationship, although there are still concerns about the platform’s legality. Concerns have also been raised regarding how Drake’s devoted supporters may respond to the cryptocurrency betting site.
He’s one of several celebrities that are interested in Bitcoin and digital assets, like Snoop Dogg and Akon. Many celebrities are already major participants in the non-fungible token (NFT) field, and more are identifying with cryptocurrencies.
The “drake net worth 2022” is a topic that has recently been trending. The Canadian rapper Drake lost $275,000 worth of Bitcoin on a UFC fight bet.
