Curtis Jackson, better known as 50 Cent, took the music world by storm with hits like “In da Club” and “Candy Shop.” His rise from the tough neighborhoods of New York to international success is nothing short of remarkable. But in addition to his musical achievements, 50 Cent is also known for his business acumen.
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The unexpected Bitcoin millionaire?
In 2014, 50 Cent made a groundbreaking decision by also selling his album “Animal Ambition” for bitcoins (BTC). This choice may have seemed like a gamble at the time, but it would ultimately provide an unexpected tailwind. According to TMZ, he earned about 700 bitcoins by accepting the coin, which was worth about $460,000 at the time. But with the increase in the value of bitcoin, this amount would increase to approximately $24 million at the current price of the king of crypto. 50 Cent was one of the first prominent musicians to accept bitcoin in exchange for music.
In addition to his Bitcoin adventure, 50 Cent has also made significant gains from other investments, including an early stake in Glaceau, a company that was later acquired by Coca-Cola for $4.1 billion. It is estimated that 50 Cent earned between $60 and $100 million from this.
Controversy and denial
However, the situation surrounding 50 Cent’s Bitcoin millions became more complex. In 2015, despite his previously fortunate fortune, 50 Cent went bankrupt, and a few years later he indicated, stated under oath in documents related to his bankruptcies, that he never actually owned bitcoins. According to these documents, all bitcoins he received for his album were immediately converted into dollars by the third company Central Nervous, using BitPay.
While 50 Cent may never really have been the Bitcoin millionaire as first reported, his flirtation with the crypto world remains a fascinating part of his legend. It highlights not only his willingness to take risks and embrace new trends, but also the complexity and unpredictability of financial decisions in the rapidly changing world of digital currencies.
2023-10-29 18:08:23
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