Former Rapper ‘Logic’ Buys $6 Million of Bitcoin

Former Rapper ‘Logic’ Buys $6 Million of Bitcoin

Gate Trade News Friday, November 20, 2020 18 0

Former rapper Robert Bryson Hall II, known by his stage name “Logic,” picked up $6 million worth of the pioneer cryptocurrency last month, he said on social app Instagram.

 

The move came as investors, fund managers, and enterprise software companies are turning to Bitcoin as a hedge against inflation. But for Logic, the move was more of a YOLO—short for “You Live Only Once”—trade.

 

“My $6 million in Bitcoin last month. F*** it. YOLO. Seriously,” he said. The asset traded under $13,500 as of October, and has risen nearly 25% to its current $18,200 since.

 

The total market capitalization of Bitcoin (BTC) has exceeded that of Mastercard’s today, placing the cryptocurrency on the 16th spot among the world’s largest companies, according to tracking.