His crypto ventures include a $100M Stake deal and investments in firms including MoonPay.
Drake’s latest track, “What Did I Miss,” features lyrics about betrayal, luxury, and bitcoin. The rapper compares fickle friends to the cryptocurrency’s rollercoaster price moves, saying he looked at it “like a BTC”: “Could be down this week, then I’m up next week.”
It’s not the first time bitcoin has appeared in Drake’s orbit. In the past few years, the Canadian superstar has become one of crypto’s most visible celebrity community members.
The rapper shared a clip of Michael Saylor on his Instagram account, which at the time had over 146 million followers, where Strategy’s co-founder said bitcoin would “eat” gold.
He’s also dropped more than $1 million worth of bitcoin on losing bets for the Dallas Mavericks and Edmonton Oilers, with other high-profile punts on UFC fights and Formula One races.
Drake’s betting performance has inspired memes calling it the “Drake Curse,” referencing losses in the teams and athletes he bets on. The rapper addressed that curse, telling fans he’s just a “flawed sports bettor.”
Yet Drake isn’t just rolling dice. He has partnered with crypto gambling platform Stake, in a partnership that’s reported to be worth $100 million annually.
Outside the casino lights, Drake has made crypto investments in firms, including MoonPay and brandished hardware wallets on social media.
Interestingly, Drake’s nod to bitcoin’s volatility comes at a time that’s being interpreted as the calm before the storm. Deribit’s bitcoin volatility index (DVOL) has, in fact, dropped to a near two-year low at 38.
