Drake Faces Major Bitcoin Losses on NBA Finals Bet
Famous canadian rapper Drake, who is known to be a big fan of digital currencies, made a significant bet in Bitcoin on the NBA Finals.
The rapper bet $500,000 with Stake on the Dallas Mavericks hoping to win $1.375 million. However, their hopes were dashed when they were defeated 106-88 by the Boston Celtics.
However, Drake still had faith and he also put $500,000 on the Edmonton Oilers in NHL’s Stanley Cup Finals.
This game will determine whether or not Drake gets rich by $1.02 million or suffers a total loss of $1 million.
READ MORE: Central Banks Consider Bitcoin: Insights from Industry Leaders
Drake has been making use of Stake as part of its partnership arrangement since 2022 for such high stakes gambling activities. He saw success from his generosity raising approximately profits worth two billion dollars during that year alone.
While he may have won out over time; it was also revealed earlier this year; wherein he lost six hundred fifteen thousand dollars ($615k) in Bitcoin following a defeat of Francis Ngannou by Anthony Joshua in boxing match
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
