As reported by CoinDesk, Canadian music artist Drake has joined the ranks of celebrities endorsing cryptocurrency, as he shared a clip of Michael Saylor’s interview on CNBC with his over 146 million followers on Instagram.
Drake, who goes by the username “champagnepapi” on the social media app, shared a clip from bitcoin_memes_daily which featured Saylor discussing Bitcoin as a superior asset that would “eat” gold.
In the clip, Saylor spoke specifically about Bitcoin’s function as a store of value rather than a medium of exchange.
Celebrity endorsements of crypto have been observed during the previous bull market, such as Larry David's infamous FTX Super Bowl ad - which he later expressed regret for. However, this bull market has yet to see many celebrities and influencers shilling crypto to the masses.
Thus, Drake's post marks one of the first large-scale endorsements of any kind during this bull market and may attract retail investors' attention back to the digital assets market.
Drake is no stranger to the crypto scene, having previously acted as an ambassador for crypto gambling site Stake. He also placed a series of Bitcoin bets for the 2022 Super Bowl.
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