Curtis Jackson, famously known as 50 Cent is now reaping the rewards of being an early believer in bitcoin. This is after in 2014, he announced that he would accept bitcoin as payment for his album Animal Ambition.
Back then the Bitcoin was valued at around $662/bitcoin as payment for his work and customers could get a copy of the album for just a fraction of a whole bitcoin.
According to TMZ, 50’s “Animal Ambition”, which was launched in 2014, pulled in about 700 bitcoins in sales over $400k. 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.
50 appeared to confirm the news through his twitter platform @50cent, through a caption: “Not Bad for a kid from South Side, I’m so proud of me,” followed by the comment “I’m a keep it real I forgot I did that shit. Lol.” A later Instagram post showed bitcoin imagery with the caption “all moneys is good money over here.”
In 2015, 50 filed for Chapter 11 bankruptcy and restructured his finances, agreeing to pay off $23 million in debt with a five-year plan.
But that low point was preceded by another soaring high when 50 Cent reportedly made a fortune off a minor investment in a product called Vitamin Water, pocketing between $60 million and $100 million when the company was sold to Coca-Cola for more than $4 billion.
Last year, he reportedly finished paying off the $23 million debt early after receiving some money in a settlement. Back in 2011, the rapper debuted a set of headphones marketed with his personal brand and became the CEO of his own audio company, SMS Audio.