Celebrity US

Justin Bieber loses millions after failed investment

You won't believe the amount of money he lost

Justin Bieber
Justin Bieber

The modern way of investing is through cryptocurrencies and NFTs. At being an unstable market, it isn't always successful, but if it is achieved, those who have acquired these "digital currencies" could even become millionaires in one day.

This was definitely not the case for Justin Bieber, who earlier this year bought a Bored Ape NFT. At the time, he acquired it for 1.3 billion dollars, but unfortunately, the value of the product decreased by 90%. In this way, the NFT for which the interpreter of "Baby" paid 1,300 dollars, is now only worth 70 thousand. 

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"While Bieber never specified why he bought NFTs, some critics speculate that celebrities bought such assets as a status symbol, a way to flaunt their wealth, and exclusive purchases", was part of a Business Insider note.

Other celebrities have acquired NFTs from Bored Ape, such as Snoop Dogg, Jimmy Fallon and Paris Hilton, however, it seems that they have done well with their investments, contrary to Justin Bieber, who in addition to his loss, now also has to deal with with bad comments on social media.

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