Drake sparks Bitcoin buzz with Saylor interview share

Saylor, CEO of MicroStrategy, emphasized Bitcoin's advantages over gold

Popular Canadian rapper Drake has taken to his Instagram to share insights on the future of Bitcoin, highlighting comments made by Michael Saylor in a recent CNBC interview.

The clip, originally posted by a Bitcoin-themed account with the caption “Michael Saylor on Bitcoin,” features Saylor discussing Bitcoin's potential as a superior store of value compared to traditional assets like gold.

Drake, known as “champagnepapi” on Instagram, shared this clip with his massive following of over 146 million, marking a notable instance of celebrity engagement with cryptocurrency content in the current bullish market.

In his interview, Saylor, the CEO of MicroStrategy, emphasized the advantages of Bitcoin over gold, suggesting that Bitcoin is poised to surpass gold as the preferred asset for preserving value.

This perspective from Saylor comes at a time when fewer celebrities and influencers are endorsing cryptocurrencies compared to the previous bull market, where such endorsements were more common.

At the same time, Bitcoin has been on the rise and setting record after record since the US Securities and Exchange Commission approved spot BTC exchange-traded funds (ETFs). On March 12, the price of the cryptocurrency established a new milestone reaching $72,000.

MicroStrategy, the company headed by Saylor, recently made headlines by acquiring an additional 12,000 BTC, totaling approximately $821.7 million. This acquisition was funded through convertible notes and excess cash and was executed at an average price of $68,477 per Bitcoin.

With this purchase, MicroStrategy's total Bitcoin holdings now stand at 205,000 BTC, representing an overall investment of about $6.91 billion, with an average purchase price of $33,706 per Bitcoin.

MicroStrategy's continued investment in Bitcoin underscores the company's confidence in the cryptocurrency's value and its integral role in the firm's treasury strategy.

Drake's Instagram post about Bitcoin is expected to draw public attention to the digital asset space, potentially sparking further interest among retail investors.

The rapper has engaged in the cryptocurrency industry by serving as an ambassador for the crypto gambling platform Stake.com since late 2021.

In his latest stint as a Stake.com ambassador, Drake introduced a new gambling persona named “Anita Max Wynn” during a Kick live stream event.

Additionally, he enjoys placing substantial bets on significant sporting events using Bitcoin.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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