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Rapper Drake Offers Kodak Black $250,000 in Bitcoin

Rapper Drake Offers Kodak Black $250,000 in Bitcoin

Rapper Drake has been very open about his bitcoin transactions lately. The Canadian rapper turned superstar continues to increase his share of the digital asset. He recently sent bitcoins to fellow rapper Kodak Black, officially introducing the latter to the cryptocurrency, who admitted that he had never used the digital asset before until Drake introduced him to it.

Drake is generous with Bitcoin

Kodak Black was on “The Breakfast Club” on Wednesday, where he revealed the generous gift his industry colleague gave him. According to Kodak, rapper Drake called him up and asked if he had bitcoin. When Kodak replied in the negative, Drake quickly told him to open a bitcoin account. Kodak, knowing his colleague, knew something was wrong and went to set up a bitcoin wallet even though he had never used it before.

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“This n***a texted me like ‘Do you have bitcoin?’ I was like ‘No’. He was like ‘Set up a bitcoin then’. So you know, I’m like, okay, I put two and two together, that’s four, you know what I’m saying? Kodak told the Breakfast Club.

BTC is still trading below $40,000 | Source: BTCUSD on TradingView.com

The Kodak rapper finally put together the wallet after being harassed by Drake. Once the amount was set and ready to use, Drake asked Kodak to send him his Bitcoin wallet. The rapper admitted to being surprised and confused by the request, but he went through with it anyway.

Shortly after, Kodak reported receiving 6.6 BTC from Drake, which was worth nearly $250,000 at the time. Kodak revealed in the interview that it has no plans to sell the generous gift. You intend to hold the digital asset for the long term as it appreciates over time.

Win big in the Super Bowl

Drake has been heavily involved in the Bitcoin gaming space. Repeatedly in the past he has placed bets using the digital asset worth millions of dollars. About two weeks ago, Bitcoinist reported that the rapper placed nearly $1.5 million in bets ahead of Super Bowl weekend, betting heavily on his team, the Los Angeles Rams, to win, with star Odell Beckham Jr. covering over 62.5 receiving yards and scoring a touchdown.

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Due to an injury sustained on the pitch, the rapper had lost bets on Beckham. But he had continued to win other bets as the LA Rams had emerged victorious from games.

Although he lost on some of his bets, Drake still made a profit on his bets. According to the numbers the rapper posted on his Instagram page, Drake would still have won over $380,000 on his bets.

HipHopDX Featured Image, Chart from TradingView.com