New York rapper 50 Cent is either looking out for his own butt or really didn’t make millions off his past Bitcoin affiliation. A new report claims Fif swore in bankruptcy court he did not get rich in 2014 when he accepted the digital currency in exchange for his Animal Ambition LP.
According to a new report, Fif swore he had never owned Bitcoin despite recently claiming he made millions off it.
The rapper filed a sworn declaration in bankruptcy court, saying … “[I have] never owned and [do] not now own, a Bitcoin account or any Bitcoins.” Fiddy’s totally changed his tune now in bankruptcy court. It’s unclear if he was embellishing then, or if he’s trying to finagle his way out of reporting Bitcoin assets to the court. (TMZ)
Last month, 50 hopped on Instagram with a since-deleted post about making millions off accepting Bitcoin as currency.
In 2014, rapper 50 Cent let people buy his album Animal Ambition using bitcoin. He then let his account lie unused for years, and only just recently discovered that he’s now a bitcoin millionaire, as first reported by TMZ. At the time, a single bitcoin was worth only $662, and the rapper’s fans could pick up the album for a fraction of that. In total, he pulled in over $400,000. Since then, the value of bitcoin has soared: the price of the cryptocurrency rose as high as $17,000 earlier this month, only to drop under $10,000 in recent weeks. (At the time of writing, bitcoin is now worth a little more than $11,000.) After sitting untouched in his account for years, 50 Cent’s earnings are now worth $7 million to $8.5 million, based on the current fluctuating bitcoin valuation. (The Verge)
G-Unit’s Uncle Murda has not only promoted digital bucks on his IG page but rapped about it too.
Since launching in 2009, Bitcoin completely takes out the need to deal with banks.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! … The price of bitcoin skyrocketed into the thousands in 2017. (CNN Money)