He should’ve bought Bitcoin, instead he’s lost $1.2 ML on his Bored Ape NFT.

Here’s How Much Justin Bieber Is Down on his NFT Investment

The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time).

The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%.

Bieber’s Massive Paper Loss
Justin Bieber was among the famous individuals who dived into NFTs when the hype around them was at its peak. The superstar bought Bored Ape #3001 in January for a whooping 500 ETH. The price of ether was in much better shape at the beginning of the year and traded at around $2,600, meaning Bieber’s investment cost him approximately $1.3 million.

The digital collectible is one of the rarest of its kind and features an unshaved monkey with sad eyes wearing a black t-shirt.

Unfortunately for Bieber, the market crash in the following months negatively affected his investment. According to data from NFT Price Floor, his collectible is currently worth 59 ETH or a mere $71,000.

Full article here: https://cryptopotato.com/heres-how-much-justin-bieber-is-down-on-his-nft-investment/