Renowned rapper Eminem gave Bitcoin BTC/USD another surge in public awareness back in 2018, mentioning the cryptocurrency in a song on his album “Kamikaze.”
What Happened: In a track titled “Not Alike,” fellow artist Royce Da 5’9′ featured alongside Eminem and rapped the following lyrics: “Remember everybody used to bite nickel, now everybody doing bitcoin.” The reference to Bitcoin in Eminem’s lyrics highlighted the growing popularity and adoption of the digital currency.
The “Kamikaze” album was launched with a surprise announcement by Eminem, releasing it at midnight on a Thursday. This album followed his previous “Revival” release in December 2017.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: The influence of the rap industry in promoting cryptocurrency extends beyond just musical recordings. Rapper 50 Cent also contributed to raising the cryptocurrency profile through his acceptance of Bitcoin as payment for his 2014 album, “Animal Ambition.” It was reported in January 2021 that this move had made him a crypto millionaire. However, he later denied owning Bitcoin during a bankruptcy court case a month later.
If you had invested $100 in Bitcoin when “Kamikaze” was released on August 31, 2018, when Bitcoin was trading at $7,053, your investment would have grown to $368.81, representing a 268.81% increase.
As of the time of writing, Bitcoin’s price stands at $26,012.
Image source – Shutterstock
Read Next: Bitcoin, Ethereum, Dogecoin Rise Without New Triggers: Analyst Is ‘Comfy, Long, And Accumulating’ After Foreseeing Market Reversal
Join Benzinga’s Future of Digital Assets in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.