Grammy-nominated rap star Robert Bryson Hall II, known professionally as Logic, belongs to a niche list of music celebrities with significant investments in Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency.
What happened: Way back in November 2020, the rapper, known for the chartbuster song “1-800-273-8255,” disclosed on Instagram that he purchased $6 million worth of the cryptocurrency.
Don’t Miss:
“My $6 million in Bitcoin last month. F*** it. YOLO. Seriously,” Logic said in a video posted on his Instagram story.
The revelation followed an earlier X (then Twitter) post where he wrote, “My manager Chris Zarou has been bugging me, so I finally made a big investment in Bitcoin.”
Trending: The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.
When Logic made the disclosure, one BTC was valued at $17,817.09. So, an investment of $6 million would have fetched him about 336.75 units of the cryptocurrency.
Today, one BTC is worth $60,228.31, meaning that Logic’s stash would be equivalent to $20.282 million, marking a significant 238% return on investment.
Note that this calculation assumes that Logic didn’t sell his Bitcoin holdings. Information about the same is not publicly available as of this writing.
See Also: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L’Oréal, Hasbro, and Sweetgreen in just three years – here’s how there’s an opportunity to invest at $1,000 for only $0.50/share today.
Why It Matters: Logic isn’t the only music artist to have boarded the Bitcoin bandwagon.
Grammy Award-winning rapper 50 Cent was one of the first celebrities to accept the apex cryptocurrency as payment for his album “Animal Ambition” 10 years ago. He collected as many as 700 Bitcoins.
Eminem, another rap legend, mentioned Bitcoin in the popular track “Not Alike” from the best-selling album “Kamikaze.”
Nas, regarded as one of the greatest rappers of all time, placed a bet on Bitcoin as early as 2014, predicting that the asset would grow bigger than the internet.
Read Next:
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
This article Grammy-Nominated Rapper Logic Invested $6M In Bitcoin Nearly 4 Years Ago: This Is How Much His Stash Would Be Worth Today originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read More: This Is How Much His Stash Would Be Worth Today
