Justin Bieber fans are questioning his judgment after the singer spent over $1 million on Bored Ape NFTs in two weeks. Here are more details about the purchases, what fans are saying, and how Bieber’s interest in cryptocurrency might be inspired by his manager, Scooter Braun.
Justin Bieber spent $1.3 Million on a Bored Ape NFT
On Jan. 31, singer Justin Bieber posted a photo of a Bored Ape Yacht Club (BAYC) NFT. The ape wears a plain black T-shirt and a sad expression, tears forming in his eyes.
“What if you had it all, but nobody to call, maybe then you’d know me,” Bieber captioned the photo, referencing lyrics to his 2021 song “Lonely.” “Cuz I’ve had everything but noones listening and that’s just f—in lonely. #lonelyboredape.”
Page Six reported that the tattooed singer spent a whopping $1.29 million for the NFT, which was 300% over its market value of $208,237 at the time of purchase. The 27-year-old paid for the Ape NFT with 500 Ethereum.
In February, High Snobiety reported that Bieber dropped $470k on a second Bored Ape NFT, just two weeks after the first. He paid for the pink-furred ape with icy teeth using 166 ETH.
Fans are making fun of Justin Bieber for spending over $1 million on NFTs
Justin Bieber’s fans are questioning his judgment after the singer spent over $1 million on Bored Ape NFTs.
“Justin Bieber Buys a Bored Ape NFT for $1.3 Million (500 ETH) – this seems like a questionable investment,” one fan commented on Twitter.
Another social media user tweeted, “NFT Market is down big Justin Bieber buying a Bored Ape was a top signal lol.”
Others aired their thoughts in the comments section of the “Peaches” singer’s Instagram post, where he shared a photo of the first Bored Ape NFT.
“Someone take away his money,” one fan wrote in a comment that has received 1,987 likes.
Another fan echoed the sentiment by commenting, “😫why waste ur money on this type of stuff like what the,” and, “Give us some decent merch & jb7 with your money & selfies not these stupid things nobody cares about 🤦🏼♀️”
The pop star might be following in his manager Scooter Braun’s financial footsteps
Justin Bieber clearly has an interest in cryptocurrency, which might be due to his manager Scooter Braun’s influence.
Braun is best known for managing celebrity clients like Bieber, Demi Lovato, J Balvin, and Ariana Grande. In March, The Wall Street Journal reported that Scooter Braun sold his mansion in Austin, Texas for around $18.5 million to Wayne Vaughan, the CEO of blockchain startup Tierion.
According to Crypto Potato, Braun was paid for the luxury home in Bitcoin. His Austin mansion sale broke the record for the biggest cryptocurrency real estate transaction in the history of Texas and is also one of the largest in the country.
Bieber’s net worth is approximately $285 million while Braun’s net worth is $400 million, so it makes sense that the singer would want to follow in his manager’s financial footsteps.