Music superstar Drake has over 146 million followers on Instagram, and on Tuesday, those fans were treated to an education on Bitcoin from MicroStrategy co-founder Michael Saylor.
The clip was taken from an interview Saylor did with CNBC’s Andrew Ross Sorkin yesterday.
“Michael Saylor on Bitcoin,” Drake’s caption said.
A known fan of Bitcoin, Drake previously posted an image of a diamond-encrusted Ledger hardware wallet to his Instagram account in 2022. The Canadian rapper walked away with $381,000 in Bitcoin after betting on the Los Angeles Rams to beat the Cincinnati Bengals in Super Bowl LVI earlier that year.
While other celebrities endorsed cryptocurrency companies like FTX and Crypto.com, Drake appears to be focused on the number one digital asset by market capitalization.
“It doesn’t have to be a currency,” Saylor said in the clip. “Nobody is tring to buy a cup of coffee with a fraction of their building on 5th Avenue.”
A long-time advocate for Bitcoin, Saylor had led Microstrategy in amassing a significant treasury of 205,000 Bitcoin worth around $14.6 billion.
“We’re buying it to hold it 100 years,” Saylor told CNBC on Monday. “That $66K to $16K crash—that shook out the tourists.”
On Monday, Bitcoin flipped Silver after crossing an all-time high of $71,000 before climbing again.
On Tuesday, Bitcoin rose another 2.75% to hit another all-time high of $72,953 after a week of volatility that saw the price of the digital asset surge and plummet, only to surge again. This surge was partly due to the Bitcoin ETFs approved earlier this year by the U.S. Securities and Exchange Commission and companies like BlackRock, Franklin Templeton, Bitwise, and VanEck scooping up millions in Bitcoin.
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