50 Cent Made Millions by Selling His Album for Bitcoin
TMZ reports that 50 Cent took a chance on cryptocurrency years before anybody even knew it was a thing, and it paid off big time. In 2014, he became the first rapper to accept bitcoin for his album, Animal Ambition. Back then, bitcoin was valued at about $662/bitcoin and fans could reportedly get a copy of the album for just a fraction of a whole bitcoin.
According to TMZ's sources, Animal Ambition made about 700 bitcoin in sales, or over $400,000. 50 reportedly let it sit in his account and now, four years later it's worth anywhere between $7 million and $8.5 million, as bitcoin's value is currently fluctuating between $10k and $12k per coin.
"Not Bad for a kid from South Side, I’m so proud of me," 50 Cent wrote, captioning a screenshot of the article about his estimated bitcoin worth on Instagram.
It's particularly impressive that he made millions since the album was actually one of his lowest selling projects. Guess it pays to have foresight.
As of today (Jan 24.) it was reported that Stripe, one of the first major companies to accept bitcoin, is no longer accepting it as payment. So, looks like 50 got in while the getting was good.
These days, most financial folks are warning against bitcoin as an investment, too, so it looks as though 50 really did have the eye of a savvy businessman by getting in early.
Check out his celebratory post below.
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