Depending on exactly when you bought it, Logic could have already earned $2 million.
Following a call from Game of Thrones actress Maisie Williams for advice on whether to invest in Bitcoin (BTC) earlier this week, rapper Logic has jumped on Bitcoin.
In a video published in his Instagram story, Logic, whose real name is Sir Robert Bryson Hall II, boasted that he „bought six million in Bitcoin last month“, while making the neck-pulling gesture popularised by fellow rapper Xzibit on the mid-’90s MTV show Pimp My Ride.
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He went on about it trying to understand that it was no big deal, muttering „F**k it“, „YOLO“ (which means „You only live once“) and „Seriously…“
Despite his stance, Logic’s investment could prove to be a particularly astute financial move.
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In the worst case scenario, if „last month“ meant that the rapper made the investment at the top of the market on October 31st, then his $6 million would have bought approximately 433 BTC at a price of around $13,850.
To date, those 433 BTCs are worth $7,926,500 at the close of this edition, representing a profit of nearly $2 million.
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However, the likelihood that this is Logic’s exact entry point to buy into the market is low.
If the rapper used the phrase „last month“ to refer to a month ago, then his purchase price could have been $11,760. These hypothetical 510 BTCs would now be worth $9.3 million, or a profit of $3.3 million.
And of course if the days and weeks mean little to the man, then it is likely that he referred to an investment in early October. This would have given him nearly 570 BTC at a price of around $10,550.
These would now be worth $10.4 million, representing a profit of $4.4 million, or a return of nearly 75% of his initial investment.