Soulja Boy, the American rapper who rose to worldwide fame thanks to his mega-hit, “Crank That,” released a new album titled “Young Drako.” While much of the album focuses on traditional rap subjects, one track on the album, “Bitcoin,” focuses on the artists’ love of the cryptocurrency — as well as his purported success making money as a trader.
While the lyrics remain light on the details regarding Soulja Boy’s trading strategies, the rapper’s enthusiasm for crypto is evident throughout the track. The song was uploaded to YouTube yesterday. The overall project seems to have received a tepid response from the hip hop community, with the overall user rating from hotnewhiphop.com currently sitting at “not feeling it.”
Soulja’s Trading Success
In the track’s chorus Soulja claims to have “spent 6000 on a bitcoin,” although it is unclear if that means Soulja’s initial purchase price cleared at $6,000. Either way, the price of bitcoin (BTC) 00 was roughly $6,550 at noon EST. At a $6,000 purchase price, Soulja is sitting on an approximately 9.2% gain on his investment.
On the first verse, Soulja’s makes a reference to using Cash App and PayPal for managing his cryptocurrency transactions. Aside from referencing his purchase of BTC through his computer, the rest of the verse covers well-tread ground for rappers, with Soulja claiming that his BTC derived fortune had allowed him to successfully woo a rival’s paramour.
On the tracks second and final verse, Soulja makes more direct claims about his love of cryptocurrency, noting that he holds both Bitcoin and Litecoin in his portfolio.
Wake up in the morning and I count my funds
Running to the money like a marathon
I got light coins, bitcoins, they my favorite ones
The verse captures feelings that seem commonplace among traders, not just amongst the crypto-currency, especially the thrill of profitable trades and wealth accumulation. The song also contains allusions to Bitcoin’s performance versus the stock market, as well as the 24/7 nature of the cryptocurrency markets. What crypto trader doesn’t relate to checking Bitcoin’s price immediately upon waking up in the morning?
Are Rappers Embracing Crypto?
This is not the first time the rap community has engaged with the crypto industry. Ripple famously hired Snoop Dogg to perform at their company party during 2018 Blockchain week in New York City. Another rap star, Eminem mentioned Bitcoin in his most recent album, “Kamikaze.”
Soulja Boy has been in the news for his other, non-rap based entrepreneurial ventures. In September of 2018 Soulja Boy revealed that he had purchased a Subway sandwich shop — although he apparently has had difficulty maintaining an orderly work schedule for the shop’s employees.
What is next for Soulja’s foray into the cryptocurrency market? Soulja leaves a cryptic hint in the songs outcry, rapping “I got bitcoin, I got Litecoin, I’m going digital, Soulja!”
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