Music superstar Drake has more than 146 million followers on Instagram, and on Tuesday those fans were treated to a lesson in Bitcoin from MicroStrategy co-founder Michael Saylor.
The clip is taken from Saylor's interview with CNBC's Andrew Ross Sorkin yesterday.
“Michael Saylor on Bitcoin,” Drake's caption said.
Drake, a famous fan of Bitcoin, previously posted an image of a 2022 diamond-encrusted ledger hardware wallet on his Instagram account. The Canadian rapper walked away with $381,000 in Bitcoin to help the Los Angeles Rams beat the Cincinnati Bengals in the Super Bowl. LVI at the beginning of that year.
While other celebrities have backed cryptocurrency companies like FTX and Crypto.com, Drake seems 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. “No one is trying to buy a cup of coffee on 5th Street with a fraction of the building.”
A long-time advocate for Bitcoin, Saylor led MicroStrategy, which raised a 205,000 Bitcoin treasury worth an estimated $14.6 billion.
“We're buying it to hold 100 years,” Salor told CNBC on Monday. “That's a $66K to $16K risk – shake off the tourists.”
On Monday, Bitcoin overturned Silver after breaching an all-time high of $71,000 before rebounding.
Bitcoin surged 2.75% on Tuesday, rebounding to hit another all-time high of $72,953 after a week that saw the digital asset rise and fall. This increase is due in part to Bitcoin ETFs approved by the US Securities and Exchange Commission earlier this year and companies such as BlackRock, Franklin Templeton, BitWise and VanEyck raising millions in Bitcoin.
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