Depending on when exactly he bought, Logic can already make a $2 million profit.
After actress Maisie Williams of Game of Thrones asked for advice on whether to buy Bitcoin (BTC) earlier this week, rapper Logic dove headfirst into Bitcoin.
In a video posted in an Instagram story, Logic, whose real name is Sir Robert Bryson Hall II, bragged „he bought six million in Bitcoin last month“ while making the gesture of pulling the collar popularised by fellow rapper Xzibit on the mid-1990s MTV show Pimp My Ride.
He kept trying to make it no big deal, muttering „F*** himself“, „YOLO“ (which means „You only live once“) and „Seriously …“.
Despite his stance, Logic’s investment may turn out to be a particularly cunning financial move.
At worst, if „last month“ meant that the rapper made the investment at the top of the market on 31 October, his US$6 million would have bought about 433 BTC at a price of about US$13,850.
Today, these 433 BTCs are worth US$7,926,500 at the time of publication of this article, representing a profit of almost US$2 million.
However, the likelihood that this is the exact point at which Logic purchased is small.
If the rapper used the phrase „last month“ to refer to a month ago, then his purchase price may have been US$11,760. Those hypothetical 510 BTCs would now be worth $9.3 million, or a gain of $3.3 million.
And, of course, if days and weeks mean little to man, then it is possible that he could be referring to an investment around the beginning of October. That would have yielded him almost 570 BTC at a price of about $10,550.
That would now be worth $10.4 million, representing a profit of $4.4 million, or a return of almost 75% on his initial investment.
Logic has since changed his Twitter name to Bobby Bitcoin. „YOLO“ indeed.