Logic says he made a massive investment of $2 million into the cryptocurrency Ethereum and that it has only gone up since.
“Put $2M in ETH at $1,400 it’s only going up baby! #Crypto,” Logic posted on his social media, Wednesday afternoon.
According to Coinbase, Ethereum reached an all-time high of $4,362.35 in May. The digital currency currently sits at about $3,800.
The No Pressure rapper also made a huge investment in the cryptocurrency, last year, pumping $6 million into Bitcoin.
As for the cost of Bitcoin, as of publishing, the currency sits at $57,126.70. Last October, it hovered around $11,000-$12,000, according to Coinbase.
Logic's investment follows a growing trend of the music industry becoming more invested in cryptocurrency. Steve Stoute’s distribution company, UnitedMasters, recently announced that they would be partnering with Coinbase to educate their artists on cryptocurrency and give them the option to be paid in the digital currency.
“[The goal is] to create more financial opportunities, equity and transparency to the dedicated, rising musicians utilizing our platform and to level the playing field so that they can stay independent and in control of their respective futures,” UnitedMasters said in a statement, according to HipHopDX.
Check out Logic's announcement below.
[Via]