Recently, there’s been quite a stir around Curtis ’50 Cent’ Jackson and his alleged bitcoin fortune. But let’s set the record straight!
In 2014, 50 Cent broke new ground by accepting bitcoin as payment for his album ‘Animal Ambition.’ Initially, reports emerged claiming he amassed around 700 BTC, valuing approximately $8 million. Quite a success story, right?
However, in a twist, 50 Cent clarified in a bankruptcy court filing that he never owned a substantial amount of bitcoin. The rapper stated, “I have never owned, and do not now own, a bitcoin account or any bitcoin,” dismissing earlier reports.
So, what’s the real deal? Well, a third-party company managed the bitcoin transactions for his album sales, instantly converting them to U.S. dollars. This means the actual amount of BTC received was much less than 700 – closer to 6 or 7, as estimated by TechCrunch.
50 Cent acknowledged the initial reports, noting that he didn’t dispute them because of the positive impact on his public image. In his words, “As a general matter, so long as a press story is not irreparably damaging to my image or brand, I usually do not feel the need to publicly deny the reporting,” highlighting the power of media in shaping celebrity narratives.
Regarding his Instagram post where he claimed to have ‘forgotten’ about his bitcoin, 50 Cent clarified that it was a playful nod to his early adoption of bitcoin in online transactions.
So, while the legend of 50 Cent’s bitcoin riches might be more myth than reality, it certainly sheds light on the intersection of cryptocurrency and the music industry. A fascinating tale of technology, fame, and finance!
