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If You Invested $1000 in Bitcoin When Rap Legend Nas Sang That He Was 'Coin-Based, Basically Crypto-Currency Scarface,' Here's How Much You'd Have Today
American rap legend Nasir Jones , known professionally as Nas, has been one of the early adopters of cryptocurrency and even used his art to market the industry to the masses.
What happened : On Apr. 30, 2021, a track titled "Sorry Not Sorry" was dropped, featuring Nas along with DJ Khaled , Jay-Z, James Fauntleroy , and Beyoncé.
The song showed Nas rapping the lines, "I'm coin-based, basically crypto-currency scarface. Join us, there's gotta be more of us," in what was a clear reference to his stakes in Coinbase Global Inc . (NASDAQ: COIN )—the cryptocurrency exchange that went public just two weeks before.
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Nas invested in the company through his venture capital firm QueensBridge Venture Partners in 2013, a year after the trading platform was launched.
Since its direct listing, the stock has been closely tied to the price movement of Bitcoin (CRYPTO: BTC ), the world's biggest cryptocurrency.
An investment of $1000 in Bitcoin when the track was released on Apr. 30, 2021, would have fetched 0.017351 units of the cryptocurrency.
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Today, one BTC is valued at $63,659.60, meaning that the total value of the stash would be worth $1102.32 today, reflecting a 10.2% increase.
Why It Matters : Nas has been a visionary Bitcoiner and once famously said," “Bitcoin will evolve into an industry as big, if not bigger, than the internet.”
The hip-hop star, whose albums like “Illmatic” have been chartbusters, purportedly bought the apex cryptocurrency when it was valued at $500, and continues to hold on to his stash, according to well-known Bitcoin journalist Pete Rizzo .
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Apart from Nas, Grammy award-winning rapper Eminem referenced Bitcoin in the song “Not Alike” from the best-selling album “Kamikaze."
Price Action : At the time of writing, Bitcoin was exchanging hands at $63,684.21, up 2.76% in the last 24 hours, according to data from Benzinga Pro . Shares of Coinbase closed 4.79% higher during Friday's session, mirroring the apex cryptocurrency's rise on the day.
Photo Courtesy: Jamie Lamor Thompson On Shutterstock.com
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This article If You Invested $1000 in Bitcoin When Rap Legend Nas Sang That He Was 'Coin-Based, Basically Crypto-Currency Scarface,' Here's How Much You'd Have Today originally appeared on Benzinga.com
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