50-Cent a bitcoin millionaire after ‘forgetting about cryptocurrency from 2014’
IB TIMES – The rapper 50 Cent has reportedly become a bitcoin millionaire, after discovering that an account used to accept cryptocurrency for a 2014 album now holds a fortune.
More than three years ago, the musician and actor – real name Curtis Jackson – let fans purchase his album Animal Ambition using bitcoin – amassing 700 BTC. Worth around $400,000 at the time, using current rates that figure is now valued at between $7m and $8.5m.
A photoshopped image posted to social media showed the popular rapper smiling in front of floating bitcoins.
He wrote: “A little bit coin anyone? I know l make you sick but excuse me I’m getting to the bag.”
News quickly spread across Reddit and social media channels. Back in 2015, Jackson ran head-on into a plethora of legal issues, being sued by Lastonia Leviston for $7m after posting a sex tape of her and a partner.
He filed for chapter 11 reorganisation – paying debts but retaining business control – citing solvency issues. In February last year, he emerged from bankruptcy after paying out $22m (£17.6m). The same month, it emerged he was suing his own legal team for $32m for losing the case.
While his new-found bitcoin stash could prove to come in handy, Jackson is no stranger to the investment game. In 2007, Coca-Cola purchased Vitamin Water from Glaceau – a firm in which the rapper held a minority stake – for $4.1bn. Jackson earned up to $100m from the deal.
“This guy invested in Vitamin Water and bitcoin. Basically a gangsta version of Warren Buffet,” wrote one commenter on Reddit Tuesday. Another jokingly added: “Get Rich or Die HODLing.”