Rapper 50 Cent reportedly found out he has millions of dollars worth of bitcoin from long-ago album sales. Nearly 700 bitcoin were paid in return for a 2014 release, and was promptly forgotten. Four years later, the world’s most popular cryptocurrency is hovering around 11,000 USD per coin, which would net the artist a cool 7.7 million USD.
50 Cent a Bitcoin Baller
“I’m a keep it real I forgot I did that shit. Lol,” Rapper 50 Cent commented on Instagram. Harvey Levin’s gossip and celebrity driven news organization, Thirty Mile Zone (TMZ), is reporting that according “to sources who spoke with TMZ, 50 is now reaping the rewards of being an early believer in bitcoin.” The rap star Curtis James Jackson III, better known as 50 Cent, offered to accept the decentralized cryptocurrency in exchange for his fifth full length album, Animal Ambition (Caroline Records).
Animal Ambition ultimately sold only 124,000 copies and charted as high as Number 4 on Billboard. Though it’s not as well known has his previous efforts, it might turn out to be one of his most profitable. Perhaps in an effort to help sluggish sales, Mr. Jackson took bitcoin for the album in addition to other methods of payment. TMZ learned he accumulated close to 700 bitcoin as a result, amounting to something like 400,000 USD. Bitcoin was trading for slightly over 650 USD at the time.
Reports also claim the rap star forgot he had them and, if true, would put his present holdings at over seven and a half million dollars. “Not bad for a kid from the South Side,” he responded on Instagram, “I’m so proud of me.”
Mr. Jackson, it appears, is a rather savvy accidental investor. He earned nearly 100 million USD in a deal with Glaceau, Coca-Cola, and Vitamin Water. Five years later, however, he was in a Connecticut federal court filing for Chapter 11 bankruptcy, claiming more liabilities than assets.
How much of this current state of affairs is actual fact remains a trade secret, as the world of music is often filled with hype. Maybe at least one more reason to be skeptical is Mr. Jackson is currently involved in releasing a new album, Street King Immortal, having just presented a single promoting the project.
“A little bit coin [sic] anyone?,” the rapper boasted. “LOL. l know l make you sick but excuse me I’m getting to the bag.”
My question: Do you think 50 Cent really has 700 bitcoin?