50 Cent Became a Millionaire Thanks to Bitcoin

Published on 25 Jan. 2018
50 cent in concert.0.0

When Bitcoin was only a fragile rumor for the ordinary people, back in 2014 a famous rapper 50 Cent sold his album “Animal Ambition 2014” for Bitcoin. For the singer who had announced himself a bankrupt two years ago, it turned out to be an unexpected multi-million profit.

On Tuesday, January 23, a famous website TMZ that publishes celebrity news, informed that a singer and actor 50 Cent (real name Curtis Jackson) received around 700 BTC as the payment for his album. The rapper was receiving payments through the service BitPay. At that time, Bitcoin was traded for $662/ВТС, and the sum was close to 400 thousand dollars. Right now, thanks to the incredible growth of Bitcoin, this amount ranges between 7 and 9 million dollars.

The artist confirmed the information by sharing the TMZ article on his Instagram and commenting: “Not bad for a South-side boy; I’m so proud of myself.” The same information was published on his Twitter.

In the comments to the publications in social media, the singer stated that he had forgotten about the savings in Bitcoin for years.

Jackson has a previous success story in business, he is known as an early investor to Glaceau, a brand that has been purchased by Coca-Cola for 4.1 billion dollars. Besides this, he is an owner of the fashion line, a series of nutritional supplements, real estate, and other property.

Nevertheless, at one time he attracted a lot of attention to Bitcoin, which wasn’t so popular then, by accepting it as a payment for his album and joining other musicians who took the similar steps. At the same year, for example, a rock-band Mastodon also started to accept Bitcoin through the BitPay. And in November last year, the Irish singer Björk announced that fans could buy her album Utopia for cryptocurrencies – not only for Bitcoin but also Litecoin, Dashcoin, and Audiocoin. 

More news

CFTC Released a Warning for Investors on Pumps and Dumps on Cryptocurrency Market

U.S. Commodity Futures Trading Commission has published a warning that advises investors watch the pump and dump schemes based on cryptocurrencies.

16 Feb. 2018

Cryptocurrency Witch Hunt: New Mining Center Uncovered in Ukraine

It seems like Ukrainian law enforcement bodies have found a new way to always be on a roll. They heroically expose the regular crimes of the darned cryptocurrency miners.

02 Feb. 2018

Lviv Coworking OKFactory Allows Cryptocurrency Payments

Ukrainian business doesn’t miss the growth of cryptocurrency popularity. Some companies in Ukraine, such as gas station company WOG and the electronics store “Citrus” accept payments in Bitcoin.

31 Jan. 2018