Drake Likens Unreliable Friends to Bitcoin's Price Swings: 'Down Today, Up Tomorrow'

In his latest song, 'What Did I Miss,' Drake touches on themes of betrayal, luxury, and bitcoin, comparing untrustworthy friends to the cryptocurrency's unpredictable price fluctuations, stating that he views them 'like a BTC': 'It could be down this week, but I'll be up the next.' This isn't the first time Drake has mentioned bitcoin. Over the past few years, the Canadian superstar has become a prominent figure in the crypto community. He has shared videos featuring Michael Saylor, co-founder of Strategy, who predicted that bitcoin would surpass gold, to his over 146 million Instagram followers. Additionally, Drake has spent more than $1 million in bitcoin on losing bets for sports teams like the Dallas Mavericks and Edmonton Oilers, as well as on UFC fights and Formula One races. His betting history has led to memes about the 'Drake Curse,' which refers to the losses of teams and athletes he bets on. However, Drake attributes his betting performance to being a 'flawed sports bettor.' Beyond betting, Drake has partnered with the crypto gaming platform Stake in a deal reportedly worth $100 million annually. He has also made investments in crypto firms, such as MoonPay, and has showcased hardware wallets on social media. Notably, Drake's reference to bitcoin's volatility comes at a time when the Deribit bitcoin volatility index (DVOL) has dropped to a near two-year low of 38, which some interpret as the calm before a potential storm.