Fiasco sparked outrage in the hip-hop world back in 2011 when he called the president "the biggest terrorist" in the country.
"I was immediately blackballed," Fiasco told Couric. "I lost a lot of friends."
"It was a wake up call for me, personally, professionally, artistically," he said.
"My black president is Nelson Mandela. Africa has always had black presidents so, my scale, being a black president isn't anything new. It's new to America, yes, but I'm a global citizen, I look around the world. So my bar is someone who really fought for peace. Not someone who's continuing wars around the world," the Chicago native added.
Despite the controversy, Fiasco continued to speak out against the president. In 2012, he told Power 99FM's Mina SayWhat that Obama was a "great speaker" who "kills little children."
Fiasco also performed at a RockON inauguration party in January 2013, when he launched into a 30-minute tirade during his headlining set.