Sir Robert Bryson Hall II, better known as the rapper Logic, shared in an Instagram story that he bought $6 million in Bitcoin last month.
“F**k it,” “YOLO.”
With YOLO meaning “you only live once.”
A Logical Bet
Call me Bobby #Bitcoin
— Bobby Bitcoin (@Logic301) November 17, 2020
Logic’s purchase of approximately 433 BTC for a price of about $13,850 per Bitcoin has led to growth to around $7,900,000. This is assuming that Logic bought BTC in October.
Logic’s purchase is the latest in a string of high profile disclosures of Bitcoin purchases, driving the general narrative that Bitcoin interest is on the rise.
It seems like we’re in the phase of the Bitcoin bull run where celebrities start talking about their crypto purchases.
“Game of Throne” star Maisie Williams also recently talked to her fans on Twitter about purchasing Bitcoin. A variety of popular celebrities were joining.
A Girl Wants to Buy Bitcoin
Williams, known as Arya Stark of “Game of Thrones” fame, asked almost three million fans if she should “go long on bitcoin.”
should i go long on bitcoin ?
— Maisie Williams (@Maisie_Williams) November 16, 2020
So far 900,000 fans have answered her poll: 46% of them tell her to purchase Bitcoin and 54% tell her not to.
Bitcoin’s Bullish Year
Bitcoin is currently in the midst of a rally. Bitcoin has had a fantastic year by all reports, despite a fall at the start of the coronavirus pandemic that saw it lose 25% in March. Since December, it’s more than doubled and many fans are once again targeting the $20,000 mark as the next break barrier.
In recent months, innovations have helped drive this year’s rally. A Bitcoin fund was launched by Fidelity Investments, bringing its star strength and heritage to the Bitcoin space. Many famous names from Wall Street have bought in. Square Inc. and MicroStrategy Inc., public corporations, also recently invested in the coin.
And the October announcement of PayPal to enable consumers to tap cryptocurrency was one of the most prominent events for fans.
This is along with other bullish news, including the rise of Wrapped Bitcoin (WBTC) to one of the top Ethereum-based cryptocurrencies based on market capitalization.
WBTC has established itself as the most common Bitcoin variant tokenized for usage on the Ethereum network. There is currently a record total of 116,885 WBTC, backed by an equivalent amount of BTCs owned by crypto custodians, according to the official website.
WBTC’s market value currently hovers around $1.58 billion according to Coingecko.
In the past week, WBTC climbed up the ranks to overtake Compound Dai (cDAI), OKB and Bitfinex. By market cap overall, WBTC is actually the 18th-largest cryptocurrency.
Behind Crypto.com Coin (CRO), USD Coin (USDC), Chainlink (LINK), BNB (BNB), and at number one, Tether USD (USDT), this renders WBTC the sixth-largest Ethereum token by market value.