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Aubrey Drake Graham, better known as the Canadian artist Drake, suffered a loss on Sunday when his $400,000 Bitcoin (CRYPTO: BTC) wager on YouTuber Jake Paul's boxing bout failed to pay off.
What took place: Drake shared a screenshot of his Instagram wager on the Jake Paul vs. Tommy Fury bout. The rapper bet a staggering $400,000 worth of Bitcoin, with a possible reward of $1.44 million, on Paul to win by knockout.
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Although being closely contested, Fury prevailed over Paul after an intense 8-round bout.
Drake has placed bets using bitcoin before. Drake won $1.26 million worth of Bitcoin earlier on February 14 after the Kansas City Chiefs defeated the Philadelphia Eagles in Super Bowl LVII.
Price Movement: According to Benzinga Pro, BTC was trading at $23,537 at the time of writing, up 1.36% in the previous day.