50 Cent Forgot He Had Bitcoin – Made $8 Million from Cryptocurrency

Four years ago, 50 Cent accepted Bitcoin as payment for his album Animal Ambition. This seemed like a novelty at the time, given that Bitcoin wasn’t worth much then. But it’s now made the New York-born rapper a massive return on his investment. According to TMZ, 50 Cent accepted Bitcoin at a time when it […]

Four years ago, 50 Cent accepted Bitcoin as payment for his album Animal Ambition. This seemed like a novelty at the time, given that Bitcoin wasn’t worth much then. But it’s now made the New York-born rapper a massive return on his investment.

According to TMZ, 50 Cent accepted Bitcoin at a time when it was only worth $662 per coin. Here’s an excerpt from their story:

“Rewind to 2014 and 50’s album, “Animal Ambition,” when the rapper became the first to accept bitcoin — which was then valued at around $662/bitcoin — as payment for his work. We’re told customers could get a copy of the album for just a fraction of a whole bitcoin.

“Our sources say “Animal Ambition” pulled in about 700 bitcoin in sales … over $400k. We’re told the cryptocurrency sat dormant in his account for years.

“Fast-forward to today — when bitcoin’s value has fluctuated between $10k and $12k per coin. Turns out 50 is a money genius … sitting on anywhere between $7 million and $8.5 million.”

As you can see, 50’s decision to take Bitcoin has turned into a return worth at least 25 times the original value.

50 Cent Congratulates Himself on the Bitcoin Success

What’s funny about this story is that 50 Cent forgot he even had the Bitcoin. It was only shortly after the big spike in December that he realized it.

And 50 was quick to congratulate himself on Instagram.

“Not bad for a kid from the South Side,” he wrote. “I’m so proud of me.”

He also tweeted, “A little bit coin anyone? LOL. l know l make you sick but excuse me I’m getting to the bag.”

Bitcoin Gamblers also Profit

I doubt any Drake Casino gamblers forgot about $8 million worth of Bitcoin floating in cyberspace. But as I covered last month, Drake players who use Bitcoin were treated to a big surprise in December.

The price has since fallen somewhat to around $11,000. But based on Bitcoin’s volatility, I wouldn’t be surprised to see another surge in the near future.

 

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