About $8 million in Bitcoin to be exact. Thanks to some album sales the rapper also forgot about, 50 Cent is a Bitcoin gazillionaire.
How could this happen?
In 2014, the California based rapper released “Animal Ambition” and was also the initial artist to agree to take Bitcoin as pay for his talent, skills, and rap.
Mr. Cent — if that’s the proper formal way to address him — received over 700 Bitcoins in the agreement and immediately proceeded to forget the cryptocurrency.
The celebrity news site TMZ reported the hoard as being valued between seven and eight million dollars. That may turn in a hurry as the currency’s price fluctuations are one of the planet’s more volatile money.
Just four years ago, Bitcoin was valued in the neighborhood of $660. By April 2018, it clocked in at just over $11,000 as reported by Coindesk.
“Not shabby for a guy from South Side,” said 50 Cent. “I’m pleased with me.”
50 Cent — whose real name is Curtis Jackson — posted a photo of the rapper, encircled by Bitcoins, on Instagram and captioned the image: “A bit of coin anyone?”
Since Curtis pointed the way, several celebrities have also promoted, and endorsed, a variety of virtual currency — for payment of course.
In September, actor Jamie Foxx promoted selling cryptocurrency on the trading exchange site: Cobinhood.
A month later, American rapper, Ghostface Killah, co-founded Creat Capital. Killah’s joint venture is a start-up intent on developing a blockchain network of ATMs which can morph cryptocurrencies into bills ready for withdrawal straight through the machines.
Even France’s reality starts Nabilla is getting involved. She spent some time on Snapchat in January encouraging her followers to enjoy Bitcoin savings, cash, and enrichment.
“So what if you don’t know anything about it,” Nabilla said. “It makes money without investing.”
Once Nabilla’s showcase made it to the French newspapers, one — Les Echos in particular — the regulators were alerted and worried.
L’Autorite des Marches Financiers tweeted a warning: “
Les gens n’investissent pas dans Bitcoint en raison des risques inhérents” or “People do not invest in Bitcoint because of the inherent risks.”