Logic Says He Invested $2 Million Into The Cryptocurrency Ethereum

Logic says he is investing $2 million into the cryptocurrency Ethereum.

BYCole Blake
Kevin Winter / Getty Images

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.

Christopher Polk / Getty Images

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.

https://twitter.com/_/status/1448392208239849474

[Via]


  • Link Copied to Clipboard!
About The Author
Cole Blake is currently an Editor at HotNewHipHop based out of Brooklyn, New York. He began working at the site as an intern back in 2018 while studying journalism at St. John’s University. In the time since, he’s graduated with a bachelor's degree and written extensively about a wide range of topics including pop culture, film & television, politics, video games, sports, and much more. He’s also covered music festivals such as Gov. Ball and Rolling Loud. You can find him publishing work for HNHH from Monday to Wednesday or on weekends. On the sports front, Cole’s a passionate NBA and NFL fan with his favorite teams being the Indianapolis Colts and Los Angeles Lakers. He also roots for the Yankees whenever he finds himself at Yankee Stadium or the Red Storm when in the company of other SJU alumni. His favorite hip-hop artists are billy woods, Earl Sweatshirt, Cam’ron, MIKE, and Mach-Hommy.