Canadian hip-hop artist Drake bet a huge amount of money for the upcoming Super Bowl match featuring the Los Angeles Rams and Cincinnati Bengals.
According to the latest report, he bet through Bitcoin, which is worth $1.3 million on Thursday, Feb. 10. Here's what happens when he wins the bet using the world's largest cryptocurrency.
Drake Bet Crypto For Rams vs Bengals Super Bowl Match
According to Bloomberg's article on Friday, Feb. 11, Drake will be backing the Rams to hope that this team wins against the Rams for the nearing Super Bowl LVI on Sunday, Feb. 13.
If his bet is right, he will be cashing out on the said day as well. In addition, the Toronto-based rapper also staked $393,000 for the touchdown score that Los Angeles' wide receiver Odell Beckham Jr. will do.
Furthermore, Drake also laid down for Beckham's receiving yards which he expects would be over 62.5 during the Super Bowl match.
Per Stake, an online betting application, the rapper is entitled to receive $2.29 million which depends on the updated price of Bitcoin during the wage-placing took place.
"All bets are in on the family. It's time," Drake posted on Instagram.
Related Article: World's Biggest Cryptocurrency Crashes by 8.8% in the Last 24 Hours | Ether, Solana, Dogecoin Slip Down as Well
Beckham and Cryptocurrency
Beckham has a special place in Drake's heart. Aside from being a close friend, he's also a roommate of the Canadian artist.
At the peak of the mid-season, Beckham signed with the Rams after serving his tenure on New York Giants and Cleveland Browns.
The New York Post wrote that the 29-year-old athlete decided to earn his NFL salary in Bitcoin after he joined the Los Angeles football squad. At that time, the bitcoin's value was around $64,000.
However, the fate of the cryptocurrency is always on a seesaw. Since then, the price of the biggest digital coin plunged to about 50%, yet it managed to recover for some time.
As of Friday, Feb. 11, the trading price of BTC sat at $42,354.70.
Another Rapper in Crypto-Related Case
In another report by Tech Times earlier this month, another rapper involved cryptocurrency not in a sports betting operation, but on a rug pull. The tech site wrote that Atlanta-based rapper Gunna was accused of an alleged crypto scam.
As uncovered by one user on Twitter, the rapper was tweeting about the new coin PushinPETH which was about to be released on metaverse. Immediately, the people were quick to react to the incident.
Others became doubtful about the tweet that mentioned a suspicious source for the investors. After some time, Gunna's post about PushinPETH was deleted together with the crypto's account.
Meanwhile, Riot Blockchain planned to shut down bitcoin-mining sites in Texas to prepare for the upcoming winter storm.
Read Also: Uber Crypto Payment Feature To Happen? CEO Explains Why They Still Can't Accept Cryptocurrencies
This article is owned by Tech Times
Written by Joseph Henry
