Bitcoin price – Rapper Logic invests $6M in Bitcoin as newest superstar to catch crypto bug

Bitcoin price – Rapper Logic invests $6M in Bitcoin as newest superstar to catch crypto bug

Following Sport of Thrones actress Maisie Williams’ name for recommendation as as to if to go lengthy on Bitcoin (BTC) earlier this week, the rapper Logic has dived into Bitcoin headlong.

In a video posted to his Instagram story, Logic, actual identify Sir Robert Bryson Corridor II, bragged that he “purchased six million in Bitcoin final month,” whereas making the collar pull gesture popularized by fellow rapper Xzibit within the mid-1990s MTV present Pimp My Experience.

He adopted this up by making an attempt to make out that it was actually no large deal, muttering “F**k it,” “YOLO” (that means “You only live once”) and “Seriously…”

Regardless of his posturing, Logic’s funding may become a very canny monetary transfer.

In an absolute worst-case state of affairs, if “last month” meant that the rapper made the funding on the market prime on Oct. 31, then his $6 million {dollars} would have purchased roughly 433 BTC at a price of round $13,850.

Quick ahead to right now, these 433 BTC are worth $7,926,500 at publishing time, representing a revenue of just about $2 million.

Nevertheless, the chance of this being Logic’s actual strike level to purchase into the market is slim.

If the rapper used the phrase “last month” to refer to at least one month in the past, then his buy-in price may have been $11,760. These hypothetical 510 BTC would now be worth $9.Three million, or a cool $3.Three million achieve.

And naturally, if days and weeks imply little to the person, then it’s possible that he may have been referring to an funding across the begin of October. This might have netted him virtually 570 BTC at a price of round $10,550.

These would now be worth $10.Four million, representing a revenue of $4.Four million, or an virtually 75% return on his preliminary funding.

Logic has since modified his Twitter identify to Bobby Bitcoin. “YOLO” certainly.