Canadian rapper and actor Drake lost roughly $275,000 in Bitcoin [BTC], after placing a bet on American professional mixed martial artist Jorge Masvidal. The “In My Feelings” hitmaker was anticipating for Masvidal to defeat Colby Covingto during a seismic UFC 272 event that took place on 5th March on the T-Mobile arena in Las Vegas.
Drake could have walked away with more than $700,000. But in a turn of events, the upset didn’t happen as expected, and Covingto instead pulled off the stunner and won the grudge match by unanimous decision after dominating every round.
This is not the first time that the superstar rapper put his Bitcoin at stake. In February, he netted around $380,000 in the largest cryptocurrency after betting $1.3 million on Super Bowl LVI. The Los Angeles Rams won against the Cincinnati Bengals, which allowed the rapper to make the killing. Prior to the results, Drake took a snapshot of his bet and posted it on Instagram for his over 100 million followers, with the caption “All bets are in on the family.”
With regards to cryptocurrency betting platform Stake, Drake had been dropping hints about a possible partnership for months. There was a picture of him playing an online game of roulette or a screenshot of his massive Super Bowl bet, the artist/actor made it clear he was at least a fan of the platform.
On 2nd March, more details emerged as Drake officially announced on Instagram calling his partnership with Stake- “inevitable.” “Drake and Stake have come together,” he wrote in the caption, adding that he’ll be announcing an upcoming live event where he’ll play for real money that he plans to give away.
Drake’s generous Bitcoin gift
Drake gifted a Twitch user $86,000 [$117,000 AUD) in Bitcoin, and she reportedly lost all of the money gambling in the same night. Twitch user Sincerelyjuju was live-streaming when she received a large payment in Bitcoin, which she later announced was sent from Drake. Not long after, Sincerelyjuju received another Bitcoin payment from the rapper, with the total amount equalling $86,000.
The Twitch streamer then took to Instagram to share her delight over the rapper’s generosity. “Drake gifted me 44k,” she wrote alongside a clip of one of the transactions.
