Drake Bets $1.3M In Bitcoin On Super Bowl LVI

Canadian rapper Drake is betting more than a million dollars worth of Bitcoin BTC/USD on the Super Bowl LVI game.

What Happened: On Thursday, the rapper shared a post on social media platform Instagram revealing $1.26 million worth of Bitcoin bets on the game on Feb. 13 between the Cincinnati Bengals and the Los Angeles Rams. 

Drake bet $600,000 Canadian dollars-worth (CAD) of Bitcoin for the Rams to win including overtime. The rapper also placed a $500,000 CAD Bitcoin bet on Odell Beckham Jr. to have more than 62.5 receiving yards and another $500,000 CAD on him getting over 0.5 anytime touchdowns.

“All bets are in on the family,” declared the rapper, who made all the bets through crypto sports betting platform Stake.

Why It Matters: Cryptocurrency is quickly becoming a big part of the Super Bowl with a number of NFL players and teams forming relationships with big players in the crypto industry.

Earlier this week, major crypto exchange FTX said it would give away as much as $1.5 million Bitcoin as part of its Super Bowl ad which will air during the game.

Last year, wide receiver Odell Beckham Jr. said he would take his salary in Bitcoin as well as give away $1 million to fans using Block Inc.’s SQ CashApp.

BTC Price Action: As of Friday morning, Bitcoin was trading at $43,636.39, up 0.34% in the past 24 hours.

Photo: Hail Merry via Flickr