As a researcher with a background in finance and sports betting, I’ve closely followed the developments surrounding Drake’s Bitcoin bet on the Copa America semifinal between Argentina and Canada, as well as the subsequent performance of the Argentine Football Association (AFA) fan token ARG.
As a financial analyst, I’d rephrase it this way: I, as an observer, noticed that Canadian rapper Drake suffered another loss in his Bitcoin wager after Argentina triumphed over Canada with a score of 2-0 during the Copa America semifinals. The triumphant victory led to a significant surge of approximately 40% in the value of the Argentine Football Association (AFA) fan token.
Bitcoin Bet Lost: Did The ‘Drake Curse’ Do It Again?
On Monday, Drake announced via Instagram that he had wagered against Argentina’s football team. Before the game began, the musician put down a Bitcoin stake worth $300,000, believing that the Canadian squad would win with a score of 1-2.
Drake playfully hinted at Argentinian fans, “This might just top Messi.” If this had come to pass, Drake would have pocketed an impressive $2,880,000 in Bitcoin as a reward.
Canada advanced to the semifinals by defeating the surprise sensation of the football tournament, Venezuela, through a series of penalty kicks. Simultaneously, the present holders of the World Cup overcame Ecuador using the same method in their quarterfinal match.
After Argentina eliminated Canada from the Copa America, Drake’s wager resulted in a loss. In response to Argentina’s triumph, the Argentine Football Association (AFA) playfully taunted Drake using Kendrick Lamar’s diss track titled “Not Like Us.”
Despite this being yet another experience for Drake in placing Bitcoin wagers, onlookers, both football fans and crypto enthusiasts, teased that the ‘Drake Effect’ persists following the defeat. Known for his costly sports bets leading to significant losses and seemingly jinxing the teams he roots for, the acclaimed Canadian rapper has a history of such incidents.
As a crypto investor, I’ve made some profitable bets alongside my rapping career. For instance, I wagered $1.15 million on Bitcoin, banking on the Kansas Chief’s victory in this year’s Super Bowl. To my delight, the team won, and my investment returned an impressive $2.35 million in Bitcoin profits.
ARG Fan Token Soars 40%
The Argentine Football Association Fan Token (ARG) emerged as a notable winner following Argentina’s qualification for the Copa America final.
The value of ARG slipped to $1,13 during Tuesday’s afternoon trade, marking a 4.4% drop on a daily basis and a 4.8% decrease over the past week. Moreover, compared to the previous month, ARG experienced a significant price fall amounting to 35.6%.
Following Argentina’s victory over Canada, there was a significant surge in trading activity for the fan token, resulting in a remarkable 227% increase. The daily trading volume peaked at an impressive $5.2 million. Prior to the match, ARG‘s trading volume hovered around $1.4 million based on information from CoinGecko.
This week on Wednesday, I witnessed a significant surge in ARG‘s value, with a stunning 41% increase that momentarily took it to $1.6. However, the market forces subsequently caused a pullback, and currently, ARG is hovering around the $1.55-$1.59 price range.
In the past week, there has been a significant surge, amounting to a 35.7% increase. On a yearly basis, this growth is even more pronounced, with a 120% rise observed. Nevertheless, it’s important to note that the ARG fan token still lags far behind its peak price during the 2022 World Cup, sitting at an 81% discount from its all-time high (ATH) of $9.1.
Just like the Spain National Football Team fan token (SNFT), there was a 10% surge following an event. On Tuesday, Spain defeated France in the European Championship with a score of 2-1. Consequently, the SNFT price jumped from $0.023 to $0.026. The potential for additional price growth exists for both tokens based on their teams’ upcoming final matches.
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2024-07-11 05:10