Canadian musician Drake has lost around $275,000 Bitcoin bet, the most popular cryptocurrency.
Drake Loses $275,000 in Bitcoin
After betting on American professional mixed martial artist Jorge Masvidal, Canadian musician Drake has lost around $275,000 in Bitcoin, the most popular cryptocurrency.
Masvidal was predicted to face Colby Covingto in Saturday’s UFC 272 event at the T-Mobile Arena in Las Vegas, according to the “In My Feelings” singer.
Drake might have walked away with more than $700,000 after placing his bold gamble on the underdog.
Unfortunately for the superstar rapper, the upset did not occur, as Covingto won the grudge battle by unanimous decision, dominating every round.
Drake isn’t the first person to put his Bitcoin on the line. He won $381,000 in the largest cryptocurrency in February after wagering $1.3 million on Super Bowl LVI. The Los Angeles Rams defeated the Cincinnati Bengals, allowing the rapper to make some quick cash.
However, it was then discovered that Stake, the Canadian online betting company that handled Drake’s wagers, is not licensed in the province of Ontario. As a result, his wagers could have been illegal.
Last month, Kodak Black, an American rapper, said that Drake had given him a $250,000 Bitcoin present.