Drake is waiting for Bitcoin (BTC) to recover, Ledger Cold Wallet by DailyCoin shows

Canadian hip-hop star Drake took to Instagram on Friday to share a photo of his ice-cold Ledger hardware wallet. The multi-platinum rapper has been a (BTC) ambassador since 2021, when he bet over $1 billion in cryptocurrency on the Super Bowl and cashed in on a pair of massive UFC bets, later forming a partnership with Stake. In addition, Drake and fellow music mogul Snoop Dogg invested several million dollars in MoonPay earlier this year.

This time, however, it is not a sponsorship deal. Ledger officially stated that they do not have a partnership agreement with Aubrey Graham, popularly known as Drake. Ariel Wengroff, vice president of Ledger’s communications department, weighed in:

“Ledger does not have a partnership with Drake and did not give him that Ledger, but we are not surprised that Drake is given the power to self-custody and protect his assets.” Currently, the rapper’s net worth is $260 million, and it’s unknown how many More Ms he has in that shiny, diamond-encrusted Ledger.

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How much #Bitcoin do you think @Drake has? #patriciatechnologies #cryptocurrencies pic.twitter.com/5cLkSfUGA1

— Patricia (@PatriciaSwitch) November 21, 2022

Cold wallets offer comfort after the FTX scare

Crypto Halloween was in full swing when the second largest crypto platform, FTX, and its native token FTX (FTT), were shredded to pieces within a week. This has sent the Crypto Fear & Greed Index to recently unseen levels of Extreme Fear as investors ran to crypto platforms to cash out.

As self-sovereignty is becoming a top priority for crypto enthusiasts and heavy investors, cold storage wallets provide an opportunity to be extra safe. The self-service wallets have CC EAL5+ certified secure chipmeaning it would be extremely difficult to rip it off, even for the most creative crypto fraudsters.

Ultimately, the world of hip-hop seems to be making big use of the Ledger wallet, as the Ledger Nano device is seen in Doja Cat and Saweetie’s music videos, while Gunna rocked the cool chain with a Diamond Ledger pendant at the Met Gala . This comes at a time when centralized exchanges are distrusted by the public, therefore it could set a new security standard for crypto enthusiasts.

(9/10) “Closer” featuring singer Doja Cat, featuring a chilled hardware wallet. In “Ledger becomes part of pop culture” news, rapper @Saweetie was seen using the @Ledger Nano in his latest music video. Check out the video here: pic.twitter.com/uWpEdrQKY5

— Nanny Camera Rentals (@dplsurve) November 20, 2022

On the other side

• Despite growing crypto adoption, Bitcoin (BTC) could not hold on to its crucial $17K support line.
• The top cryptocurrency is trading at $16,116.56, with 2.6% in the red in the last 24 hours.

Why you should care

Celebrities showing off their cold storage wallets can increase crypto adoption as well as raise awareness of some of the most vulnerable security issues surrounding crypto.

Read the latest Bitcoin (BTC) adoption stories:

El Salvador buys one Bitcoin (BTC) a day, declares Nayib Bukele

FTX contagion in sports: teams and athletes rush to end FTX deals

See the original on DailyCoin