Drake, the Canadian rapper with over 146 million followers on Instagram, recently shared a clip of Michael Saylor’s CNBC interview discussing Bitcoin. The clip, originally posted by bitcoin_memes_daily with the caption “Michael Saylor on Bitcoin,” features Saylor’s insights on Bitcoin as a superior store of value compared to gold. This share by Drake, known as “champagnepapi” on Instagram, marks a significant moment of celebrity engagement with cryptocurrency content during this bull market period.
In his interview, Saylor, the CEO of MicroStrategy, emphasized Bitcoin’s advantages over gold, suggesting that Bitcoin will surpass gold as the preferred asset for value preservation. It is essential to know that Saylor’s perspective on Bitcoin comes amid a less frequent trend of celebrities and influencers endorsing cryptocurrencies, contrasting with the previous bull market that saw numerous high-profile endorsements.
Moreover, MicroStrategy has recently made headlines by purchasing an additional 12,000 BTC for approximately $821.7 million, funded through convertible notes and excess cash, Cryptopolitan reported. This acquisition was made at an average price of $68,477 per Bitcoin. Following this purchase, MicroStrategy’s total Bitcoin holdings have increased to 205,000 BTC, with an overall investment of about $6.91 billion, equating to an average purchase price of $33,706 per Bitcoin.
Drake’s Instagram post on Bitcoin is likely to draw public attention to the digital asset space.
Meanwhile, MicroStrategy’s unwavering investment in Bitcoin highlights the company’s confidence in the cryptocurrency’s value and its central role in the firm’s treasury strategy.