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Rapper Logic invests $6M in Bitcoin as latest celebrity to catch crypto bug

Logic may still have raised $2 million, based on exactly when he bought in.

The rapper Logic dived into Bitcoin headlong after Game of Thrones actress Maisie Williams’ demand for advice as to whether to go long on Bitcoin earlier this week.
According to cointelegraph.com, Logic, which his real name is Sir Robert Bryson Hall II, bragged in a video posted to his Instagram story, that he “bought six million Bitcoin last month,” while making the collar pull gesture popularized by fellow rapper Xzibit in the MTV show Pimp My Ride in the mid-1990s.

The investment in Logic could turn out to be an especially canny financial decision, despite his posturing.
In an actual worst-case situation, if “last month” meant that on October 31, 2020, the rapper made the transaction at the market top, then his $6 million dollars would have purchased approximately 433 BTC at a price of approximately $13,850. Fast forward to today, those 433 BTC are worth $7,926,500, representing a profit of nearly 2 million. Though, the possibility of this being the exact strike point for Logic to buy into the market is small.

If the rapper used the term “last month” to refer to a month ago, so $11,760.0 may have been his buy-in price. This possible 510 BTC will be worth $9.3 million today.

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