Music superstar Drake has over 146 million followers on Instagram, and on Tuesday, those fans got an education on Bitcoin from MicroStrategy co-founder Michael Saylor.
This clip is from an interview Saylor did with CNBC’s Andrew Ross Sorkin yesterday.
“The Michael Saylor of Bitcoin,” Drake’s caption said.
Drake, a known fan of Bitcoin, posted an image of a diamond-encrusted Ledger hardware wallet on 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 the Super Bowl. Earlier that year, LVI.
While other celebrities have endorsed cryptocurrency companies like FTX and Crypto.com, Drake appears to be focusing on the number one digital asset by market capitalization.
“It doesn’t have to be a call,” Saylor said in the clip. “No one wants to buy a cup of coffee in some of the buildings on Fifth Avenue.”
Saylor, a long-time Bitcoin advocate, led Microstrategy and amassed a significant fund of 205,000 bitcoins, worth about $14.6 billion.
“We’re buying it to last 100 years. That $66,000 to $16,000 crash has rattled tourists,” Saylor told CNBC on Monday.
Bitcoin rose again on Monday after surpassing its all-time high of $71,000 and then overtaking silver.
On Tuesday, Bitcoin rose another 2.75% to a record high of $72,953 after a week of volatility in which the digital asset’s price soared, then plunged, and then surged again. The surge is partly due to the Bitcoin ETFs approved earlier this year by the U.S. Securities and Exchange Commission and companies such as BlackRock, Franklin Templeton, Bitwise and VanEck, which have unlocked millions of dollars in Bitcoin.
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