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<p style="background: white; margin: 0cm 0cm 12.0pt 0cm;"><span style="font-family: 'Arial',sans-serif; color: #414242;">Rapper sensation Drake posted a video of Michael Saylor praising Bitcoin as a store of value to his 146 million Instagram followers.</span></p>
<p>The clip is taken from a CNBC <a href="https://twitter.com/natbrunell/status/1765328439551099315" target="_blank" rel="noopener noreferrer nofollow">interview</a> with Saylor in which the MicroStrategy co-founder said Bitcoin will ”eat gold” because it is a superior asset.</p>
<p>The video shared by the Grammy-award winner has Bitcoin bull Saylor saying Bitcoin is a store of value and not a medium of exchange.</p>
<p>Saylor believes that Bitcoin exchange-traded funds (ETFs) will not only outperform gold ETFs but also compete with the S&amp;P 500 Index.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">JUST IN: Rap legend Drake posts a Michael Saylor <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> video to his 146 million Instagram followers 🔥<a href="https://t.co/T79xwzvDXX" rel="noopener noreferrer nofollow">pic.twitter.com/T79xwzvDXX</a></p>
 <p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1767522674010382633?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 12, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="does-drake-s-michael-saylor-video-show-celebrity-endorsements-are-back">Does Drake’s Michael Saylor Video Show Celebrity Endorsements Are Back?</h2>
<p>The clip may indicate the beginning of a comeback for celebrity endorsements of cryptocurrencies.</p>
<p>Celebrities have promoted <a href="https://insidebitcoins.com/news/bitcoin-price-prediction-as-btc-breaks-above-72k-experts-say-this-green-alternative-to-bitcoin-might-be-the-best-crypto-to-buy-now" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> and other crypto projects during previous bull markets, but in some case have faced subsequent legal consequences.</p>
<p>During the 2021 bull market, the now-defunct FTX exchange partnered with celebrities like Tom Brady, Kevin O’Leary, and Larry David to promote the exchange. However, the celebrities now face a class-action <a href="https://insidebitcoins.com/news/shaquille-oneal-hit-with-ftx-and-astral-nft-suits-during-nba-game" target="_blank" rel="noopener noreferrer nofollow">lawsuit</a> after the crypto exchange collapsed.</p>
<p>With Bitcoin trading at all-time high levels above $73,000, a similar trend is at play. Such endorsements have previously piqued the interest of retail investors in cryptocurrencies, helping to drive prices higher.</p>
<p>Drake himself is not new to Bitcoin. During the 2022 Super Bowl, the rapper used Bitcoin to place bets.</p>
<h2 id="michael-saylor-dumps-mstr">Michael Saylor Dumps $MSTR</h2>
<p>Separately, a <a href="http://www.sec.gov/Archives/edgar/data/1050446/000095017024029246/xslF345X01/ownership.xml" target="_blank" rel="noopener noreferrer nofollow">filing</a> with the US Securities and Exchange Commission (SEC) shows that Saylor sold 1,050 MicroStrategy (MSTR) shares on March 8. The sale happened at an average price of $1,415 per share.</p>
<p>The executive chairman of MicroStrategy has sold a total of 205,000 MSTR shares over the years but has not made any purchases.</p>
<p>His sale comes as MicroStrategy accumulates more Bitcoin. The analytics firm recently <a href="https://twitter.com/saylor/status/1767158870294605904" target="_blank" rel="noopener noreferrer nofollow">purchased 12,000 BTC</a> for $821 million. It now holds 205,000 BTC purchased for $6.91 billion.</p>
<h3 id="also-read">Also Read:</h3>
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Rapper Drake Posts Michael Saylor Video Lauding Bitcoin As A Store Of Value To His 146 Million Instagram Followers

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