50 Cent's history with cryptocurrencies began in 2014, when he released his album Animal Ambition. At the time, the rapper decided to accept payments in Bitcoin, a cryptocurrency that was still relatively unknown and not as valued as it is today. 50 Cent received the equivalent of about $400,000 in $BTC from sales of the album.
After that, he apparently âforgotâ about these Bitcoins, which were stored in a digital wallet. In the following years, the value of Bitcoin skyrocketed, and by the time 50 Cent rediscovered his cryptocurrency balance, the amount had increased significantly. In 2018, media reported that his Bitcoins had appreciated to between $7 and $8 million due to the currencyâs massive appreciation.
This discovery attracted attention, since a year earlier, in 2017, 50 Cent had declared bankruptcy, with debts worth 32 million dollars. The discovery of Bitcoins seemed like a stroke of luck.
Later, in legal documents, he clarified that while the news generated a lot of interest, he never actually owned or held a significant amount of Bitcoin. According to the documents, any cryptocurrency he received was immediately converted to dollars by the payment platform he used in 2014. This means he did not directly profit from the appreciation of the currency, and the story of the millions in $BTC was more of a misunderstanding that grew in the media.
This story, although exaggerated, is an interesting example of how cryptocurrencies can, in some cases, generate unexpected fortunes.
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