Drake's loss of $400,000 in bitcoin via a bet on Jake Paul

Drake’s loss of $400,000 in bitcoin via a bet on Jake Paul

Drake, a rapper who has won five Grammy Awards, placed a bet that British professional boxer Tommy Fury would lose to Jake Paul in a boxing match that was held in Diriyah, Saudi Arabia. Drake’s bet resulted in a loss of approximately 17 bitcoins, which is equivalent to a loss of approximately $400,000 in bitcoin.

Jake Paul, a popular YouTuber who recently shifted his attention to boxing, is the latest person to fall prey to the famed ‘Drake Curse,’ which holds that if an individual or team receives Drake’s backing, they will ultimately fail to achieve their goals.

Before this game, Paul enjoyed a winning streak of six games in a row. Despite being knocked out in the eighth and final round of the battle, world heavyweight champion Tyson Fury’s half-brother Tommy Fury prevailed over Paul through split decision in the eight-round fight.

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Before his battle with Tommy Fury, Paul had only competed in the ring against MMA fighters, YouTubers, and ex-NBA players. This fight with Tommy Fury was Paul’s most significant bout to date. Drake made the wager on the blockchain-based gambling site known as Stake.

At the press conference that immediately after the fight, Paul made a joke about Drake’s bet by exclaiming, “F***! Drake is to blame for this mess! Drake, my sibling, I don’t understand why you would do this to me. Incorrect; I am to blame. Four hundred thousand dollars is nothing to him since he has earned a lot more money betting on me in the past. It’s likely that he’s about even currently. I’m sorry, Drake, but I’ll have you beat when we meet again.”

Drake is well-known for engaging in a variety of crypto betting activities. In May of 2018, Drake suffered a loss of more than $200,000 worth of bitcoin due to a wager placed on the Spanish Grand Prix. The rapper had earlier placed a wager in the amount of 1.26 million dollars worth of bitcoin on the outcome of the Super Bowl match between the Cincinnati Bengals and the Los Angeles Rams.

Compiled by Coinbold