Drake Loses $400K Bitcoin on Jake Paul’s Bout

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  1. Jake Paul’s string of successes is brought to a halt by Tommy Fury.
  2. Paul humorously referred to Drake’s bet.
  3. A joke has been circulating online called the ‘Drake Curse.

Drake, the Canadian singer, and rapper has lost $400K in Bitcoin after he bet that the YouTuber-turned-boxer Jake Paul would beat Tommy Fury by knockout. Drake could have raked in a $1.44 million Bitcoin payout, but Fury won the fight in a split-decision victory.

On Feb. 26, 2023, Jake Paul’s string of successes in the ring was halted by Tommy Fury, the half-brother of Mike Tyson, in Diriyah, Saudi Arabia. 

The match was a close call, with Fury winning by a split decision (74-75, 76-73, 76-73) despite Paul sending him to the mat during the eighth round. Before the fight, the rapper and actor Drake placed a $400,000 Bitcoin stake, or around 17 BTC, that Paul would win by knockout.

Notably, Drake posted a screenshot of his bet on Instagram, which showed that had Paul been victorious, he could have pocketed $1.44 million of Bitcoin. The 36-year-old musician is renowned for his various cryptocurrency wagers, including a $472,000 Bitcoin bet on the L.A. Rams to beat the Bengals in the Super Bowl, which paid off with a $240,000 return.

However, he has also encountered some losses, such as when he gambled $275,000 in BTC on mixed martial artist Jorge Masvidal and $234,000 in Bitcoin when Charles Leclerc didn’t win Spain’s Grand Prix. 

Most interestingly, a joke called the ‘Drake Curse’ has been circulating online, suggesting that if Drake supports an individual, there will be a loss. Following the fight and during a post-match press conference, Paul humorously referred to Drake’s bet. He said that it was Drake’s fault. 

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

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