Canadian rapper Drake bet $1.26M in BTC on the Super Bowl and won nearly $300,000 on Sunday. Anthony Pompliano, famous Bitcoin investor, gives us his explanations on this subject.
As reported by BeInCrypto, Drake announced his $1 million+ mega bet on Friday, February 11.
To recap, the rap superstar made a total of three bets, for a cumulative amount of around $1.26 million. The first bet was on the Rams’ Super Bowl victory, the second and third were on the performance of receiver Odell Beckham during the game (registration of at least one touchdown and gain of 62.5 yards on reception).
The first two bets were successful and won Drake around $1.55 million. The latter was therefore able to recover his initial bet of $1.26 million, in addition to a gain of nearly $300,000. While sports betting fans are more interested in matches and amounts wagered, Anthony Pompliano thinks the most interesting is the fact that Drake has chosen to bet in Bitcoin (BTC).
“Everyone wants to know why Drake used Bitcoin,” Pompliano claimed in his Monday, February 14 podcast. “Now, of course, there are only very simple explanations. As banks have opening hours – you cannot transfer large sums of money such as $1.3 million on weekends or outside of business hours – but there is also geographic arbitrage. .”
“Sometimes to use these betting services, it is better to use BTC rather than dollars, because the settlement times are faster and the cost is cheaper. Bitcoin is better from a technological point of view”.
the BTC is “good for Drake”
Mr. Pompliano shared several reasons that he believes made Drake bet in Bitcoin rather than dollars. But whatever his reasons, the specialist believes that this choice will be beneficial for the crypto.
“One of the world’s most famous musicians is now using Bitcoin, not only as a store of value, but also as a medium of exchange. If Drake talks about Bitcoin, speaks out online about his use of BTC, and the media breaks the news, that means more and more people will say, “If Bitcoin is good for Drake, then maybe it’s good for Drake. is good for me too,” said Mr. Pompliano.
Drake’s mega bet wasn’t the only good news this year’s Super Bowl brought to the crypto community. A Coinbase ad that ran during the sporting event attracted so many users that the exchange had to limit traffic to prevent the site from crashing.
Disclaimer
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on information found on our website is entirely at their own risk.