"I'm So Proud Of Me": 50 Cent Makes Millions From Album Sales In Bitcoin
Content adapted from this Zerohedge.com article : Source
by Tyler Durden
It's "Get Rich or Die Tryin", the Crypto edition.
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Rapper and actor 50 Cent recently revealed that he made one of his best business decisions a few years back when he decided to accept payment in bitcoin for his new album, Animal Ambition, released in June 2014, back when a single coin was worth about $660.
50, i.e. Curtis James Jackson III, eventually amassed around 700 bitcoins from the album, totaling about $400,000 in sales during the time frame. That sum has since swelled to roughly $8 million (depending on what time of day one checks).
At the time he forgot about the virtual transactions only to be reminder this week when he took to Instagram on Tuesday to boast about the savvy business move, writing in a series of posts, "A little bit coin anyone ? LOL. l know l make you sick but excuse me I'm getting to the bag."
He added, 'Not Bad for a kid from South Side, I'm so proud of me.'
A little bitcoin anyone? LOL. l know l make you sick but excuse me...I'm getting to the bag 💰 #denofthieves pic.twitter.com/DCJu2thDr9
— 50cent (@50cent) January 23, 2018
In response, some asked if the news makes 50 the first celebrity hodler.
TMZ / Daily Mail:
Rapper 50 Cent accidentally accepted 700 bitcoins in 2014 for his album. Now worth $70 million. 50 said "I'm so proud of me."
Does that make 50 officially the first celebrity hodler?
— Joseph Young (@iamjosephyoung) January 24, 2018
The score is reminiscent of 50's now-famous decision to sell his take in VitaminWater for $100 million when the company was bought by Coca-Cola.
The newly discovered wealth will come in handy. The unexpected windfall comes after the rapper filed for bankruptcy in Connecticut back in 2015 after being found liable in a lawsuit.
50 Cent isn't the only celeb to express an interest, or profit from crypto, but while other rappers - like rival the Game - have focused on promoting sketchy ICOs, the "Get Rich or Die Tryin" star earned his crypto fortune the old fashioned way: by hodling.
@zer0hedge...bro the guy had 700 bitcoins since 2014, it sounds an awful lot like he perjured himself in court in 2015 when he claimed he was bankrupt. Dumbass should have kept quiet about it, but, you know, he's a rapper and can't help himself..Blacks gonna rise out of poverty on Bitcoin and racist old goldbugs grandchildren are going to be living in trailer parks.Granddaddy goldbugs precious little baby girl is gonna be putting her tulips to work on big black moon rockets in 2040.This coming from the guy who couldn't spot a typo. You even worked out all of the math and had the answer sitting right in front of your face yet still could not spot the extra zero...thank you for sharing with us...
700 bitcoins!!r u kidding me.
He filed chapter 11 for his company, not that he didn't have any money left. A lot of times this is a very clever decision. Bancrupcy is no joke. I think you are a bit harsh on the man :)
LOL! Didn't think about perjury detail...
How about you sue the guy or blackmail him? FREE CRYPTO :D
I appreciate your comments
Great post as always @zer0hedge. It's interesting to see big celebrities getting in to cryptocurrencies and promoting them in a positive way. The best way to earn crypto is to either
My personal favourite is a mix of all three - I'm currently running a passive income series on my page! That being said, earning or investing and Hodlin seems to have worked well for 50 Cent.
Well said bro.
I appreciate your comments
This is how many people are entering the crypto world (especially "celebrities"), they need to negotiate and carry a lot of money, and BTC offered an easy solution to this problem, and now we are getting a new story every day about someone who has received a payment on the BTC for a job and is now even richer (multimillionaires)!
Fun fact: The other day I saw a meme about 50cent where he has a CD that costs actually 50 cents :D
U got the fact bro.
I appreciate your comments @diogosantos
I did not see this. I follow 50 cent on Twitter. After I became a member of Steemit, I started not to look at other social media, so I saw it for the first time.
I will be rich with a solid investment. But I do not know. I even think you forgot that money for a long time. Because he did not need the money. Then he suddenly became rich. It must be a great feeling. It would be great for me. @zer0hedge
Me too.I also didn't look at other social media after starting steemit.
I appreciate your comments @darlsea
Amazing @zer0hedge.
That is a visionary, and that is how the people make money earlier.
If your vision of future is correct, you will receive a lot of money, like the guy who sold 2 pizzas for more than a few bitcoins.
Right bro,we need to be focused in future.
I don't know how much awareness he had about bitcoin, but CONGRATS ! God works in mysterious ways, you know. I guess that will further help for the publicity of crypto. I will not even comment The Game, promoting ICO's - that's crazy. I hope he is a hodler - lol.
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Thanks I hopefully Successful in your life @zer0hedge
It’s no coincidence that immediately following the civil rights era blacks in entertainment started draping themselves in gold (think late 70s early 80s, rappers, Mr T, the ABA.) With the end of the gold standard TPTB had to make gold look like a “barbarous relic”, and one way to get your everyday investor/saver out of gold was to give the idea it was something blacks bought and valued. Young niggas running around rapping about da geto decked out in thick links of gold and au pimp rings is not something white america wanted to put their money in.
But their kids did. Rick Rubin and Jerry Heller knew how to get to the kids.
The famous name, which has a share on the subject via social media, is "not bad for a child from the South region. I am proud of myself. "