Justin Bieber’s $1.3 Billion Bored Ape NFT Is Worthless—Blockstream CEO
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3 Articles
Justin Bieber’s $1.3 Billion Bored Ape NFT is Worthless—Blockstream CEO
Blockstream CEO Adam Back has said Justin Bieber’s Bored Ape NFT, which he bought during the 2022 NFT hype for $1.3 million, is worth nothing as of today. Back made this remark in response to a post on X that valued the NFT portfolio at its current market price, estimating it to be worth $16,300. […] Read The Full Article Justin Bieber’s $1.3 Billion Bored Ape NFT is Worthless—Blockstream CEO On Coin Edition.
Justin Bieber’s $1.3 Billion Bored Ape NFT is Worthless-Blockstream CEO
Adam Back calls Bieber’s NFT “worth nothing” despite its $1.3M purchase during the 2022 hype cycle. An automated tracker listed the baseline price of a Bored Ape NFT at around $16,000. Adam Back maintains that PFP NFTs are fundamentally worthless as an asset class. Blockstream CEO Adam Back has...
The Bored Ape that Justin Bieber bought for the equivalent of USD $1.3 million today has a much lower price reference. Adam Back argued that the NFT could be worth zero or even have a negative value if you consider the cost of transferring it, and clarified that its criticism refers to collectibles, not Bitcoin.
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