Prominent individuals are jumping on Bitcoin like never before.

Former rapper Robert Bryson Hall II, known by his stage name “Logic,” picked up $6 million worth of the pioneer cryptocurrency last month, he said on social app Instagram.

The move came as investors, fund managers, and enterprise software companies are turning to Bitcoin as a hedge against inflation. But for Logic, the move was more of a YOLO—short for “You Live Only Once”—trade.

“My $6 million in Bitcoin last month. F*** it. YOLO. Seriously,” he said. The asset traded under $13,500 as of October, and has risen nearly 25% to its current $18,200 since.

Market capitalization. Image: Shutterstock

Bitcoin Now Has a Greater Market Cap Than Mastercard

The total market capitalization of Bitcoin (BTC) has exceeded that of Mastercard’s today, placing the cryptocurrency on the 16th spot among the world’s largest companies, according to tracking platform AssetDash. Bitcoin’s market cap amounts to nearly $338 billion while the coin’s price hovers around $18,270. According to AssetDash’s data, Bitcoin’s capitalization increased by 3%—enough to push payment giant Mastercard back to 17th place as its market cap lost 0.6%. In the corporate world, mark...

NewsBusiness
2 min read
Liam Frost

But Bitcoin’s not the only niche asset Logic’s got his hands on. As per culture publication Complex, he once picked up a single Pokemon card worth $226,000 in an auction (the childhood playtime cards are undergoing somewhat of their own bull run these days).

Meanwhile, to commemorate his Bitcoin purchase, Logic changed the name of his account on social app Twitter to “Bobby Bitcoin” (it was Bobby Bathroom Break earlier).

Needless to say, tweets advertising his huge Bitcoin holdings followed. “Alright f*** Twitter I’m going to play chess and count my Bitcoin,” read one such tweet.

Bitcoin
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+5.45%$109,535.21
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Created with Highcharts 10.3.3May 12May 14May 16May 18May 20May 22May 24May 26May 28May 30Jun 1Jun 3Jun 5Jun 7Jun 9$100000$102500$105000$107500$110000$112500
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With 2.4 million followers at press time, that's a lot more exposure for Bitcoin.

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