Canadian rapper Drake has lost another Bitcoin bet after Argentina defeated Canada 2-0 in the Copa America semi-finals. The Argentine Football Association (AFA) fan token surged more than 40% following the win.
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Bitcoin Bet Lost: Has the ‘Drake Curse’ Happened Again?
On Monday, Drake shared on Instagram that he had bet against the Argentine national soccer team. Ahead of the match, the rapper placed a $300,000 Bitcoin bet that the Canadian national soccer team would defeat the defending World Cup champions 1-2.
Drake also teased the Argentine fans, saying: “This could get Messi.” If carried out, the Canadian rapper would have received a payment of $2,880,000 in Bitcoin.
Canada reached the semi-finals after beating the tournament’s revelation team, the Venezuelan national football team, on penalties. Meanwhile, the reigning World Cup champions also beat Ecuador in a penalty shootout.
Drake’s gamble resulted in defeat after Argentina eliminated Canada from the Copa America. Following the victory, AFA’s social media accounts attacked the rapper using Kendrick Lamar’s diss track ‘Not Like Us’.
However, this isn’t Drake’s first rodeo with Bitcoin Betting. Football watchers and the crypto community have joked that the ‘Drake Curse’ continues after the loss. The Canadian rapper has a history of losing hundreds of thousands on his sports bets and ‘cursing’ the teams supported by the programs.
Despite this, the rapper has also made profits from his crypto bets. He bet $1.15 million worth of Bitcoin on the Kansas Chiefs to win this year’s Super Bowl. The victory resulted in a return of $2.35 million in the leading cryptocurrency.
ARG Fan Token Up 40%
Another winner was the Argentine Football Association (ARG) Fan Token. The token performed remarkably well after Argentina secured its ticket to the Copa America final.
The price of ARG saw red numbers ahead of the match, with the token trading at $1.13 on Tuesday afternoon. This performance represented a 4.4% drop, 4.8% on the daily and weekly timeframes. The token also saw a 35.6% price drop over the previous month.
After Argentina beat Canada, daily fan token trading activity shot 227%, reaching a trading volume of $5.2 million. Prior to the split, ARG’s trading volume was around $1.4 million, according to data from CoinGecko.
On Wednesday morning, ARG surged 41%, briefly hitting the $1.6 mark before pulling back. At the time of writing, the token was fluctuating between the $1.55 and $1.59 price range.
The recent performance represents a 35.7% and 120% increase on both the weekly and yearly timeframes. However, the ARG fan token remains 81% below the all-time high (ATH) price of $9.1 during the 2022 World Cup.
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Similarly, the Spanish National Football Team’s fan token (SNFT) saw a 10% increase. On Tuesday, Spain knocked France out of the European Championship, winning 2-1. As a result, SNFT went from $0.023 to $0.026. Both tokens could see even more positive price action depending on the outcome of their teams’ respective finals.
Featured image from Unsplash.com, chart from TradingView.com