Drake Drops New Single Comparing ‘Fake Friends’ to Bitcoin’s Brutal Price Swings

Drake, a renowned rapper and Bitcoin enthusiast, has dropped a new single ahead of an album release with lyrics referring to the volatile nature of the cryptocurrency Bitcoin. The single is released at a time when Bitcoin’s future remains uncertain, particularly regarding regulatory support from the US government. It could very well reach an All-Time High (ATH) in the coming months. Drake’s new single addressed themes of betrayal, fake friends, and conflict. Drake released a new single titled “What did I miss” ahead of an upcoming album release. Bitcoin traders have taken a keen interest in the album due to its lyrics—the new single references Drake’s ongoing feud with rapper Kendrick Lamar. Drake refers to his conflict with Lamar as being similar to the price volatility of Bitcoin, which can fluctuate significantly from one day to the next. Drake is also a keen gambler and has been referred to as the ‘Drake Curse’ due to his unfortunate picks on UFC, NBA, among other high-profile sporting events. Blockwave, a Bitcoin hardware provider, predicted in 2022 that it would use data from previous innovations that scaled over time, such as automobiles, electricity, and the internet, to forecast Bitcoin adoption. Blockwave predicted that Bitcoin would hit 10% adoption by 2030, using the listed scalability models for technological innovation. It is estimated that Bitcoin currently has a global adoption rate of 4%, meaning that approximately 4% of the world’s population holds Bitcoin. Therefore, using a back-of-the-envelope analysis, we can safely assume that Bitcoin will double from 4% to 10%, which corresponds to a roughly 2x increase in adoption. This could lead to a 2x price increase from $100k to $200k if the scalability model of technological innovation holds. This forecast supports the Bitcoin traders who have been pointing to a $200,000 price target. Drake’s reference to Bitcoin’s volatility may be timely if the price continues to make large returns for crypto traders. Drake released the new single during a YouTube stream titled “ICEMAN EPISODE ONE,” where the Canadian rapper addressed the issue of betrayal and feuds. In the stream, Drake plays the character of a worker on his lunch break. The song is about a friend who has betrayed his trust. He describes this as being similar to the price of Bitcoin, which sometimes serves as an ally when the price rises, but then becomes a traitor when the price falls, leaving Drake with less money. He could be describing his relationships as being similar to gambling, with one moment being on top, and then being betrayed when he is down on his luck. His lyrics describe friends who once stood by his side and now hang out with people who are his enemies. He describes friendship like the price of Bitcoin, which can fluctuate without warning. Bitcoin has been a complicated asset to forecast, changing direction within the blink of an eye and causing much suffering for traders who speculate on margin. The ‘Drake Curse’ refers to the rapper’s history of taking large bets on the NBA and UFC. Drake has lost over $1 million in Bitcoin, betting on NBA games. Drake took a bet on the Dallas Mavericks taking the NBA title. He lost his $ 500,000 Bitcoin bet because the Boston Celtics beat the Mavericks. Within weeks of this failed bet, Drake bet another $500k on the Edmonton Oilers winning the NHL Cup. However, the Panthers beat the Oilers, adding another Loss to Drake’s gambling tally. Maybe Drake could release his gambling blockchain that gives all proceeds to a ‘0% admin fees’ charity such as GiveDirectly? This would transform Drake’s gambling losses into charity donations. The more he loses, the more he gives. The UFC has been of great interest to the Canadian rapper. His most notable loss was betting $450,000 on Israel Adesanya to defeat Dricus du Plessis in 2024. However, he has had some notable successes, such as betting on Alexander Volkanovski to beat Diego Lopes. This was a good bet because Volkanovski had experienced some major losses and appeared to be on the verge of retirement. However, recently, Drake bet on Oliveira beating Topuria, which cost him $ 200,000. Topuria achieved a knock-out in the first round, which would have been very disappointing for Drake to watch. Drake, therefore, has a lot of experience with Bitcoin and gambling, earning the title ‘Drake Curse’. The reference to Bitcoin in his latest song is a reflection of how cryptocurrencies have become a mainstream phenomenon, no longer a fringe movement.

Source: ZyCrypto