Back in 2014, 50 Cent made an unusual business deal. He agreed to accept bitcoin for some sales of his album Animal Ambition. The cryptocurrency already had a dedicated following, and it seemed like a novel idea. Those sales didn’t add to much at the time, but the value now is staggering. 50 Cent’s bitcoin is now worth more than $7.5 million.
“Not Bad for a kid from South Side, I’m so proud of me,” 50 Cent posted on Instagram.
“In an additional comment that could either amaze or exasperate people who would love to find a pile of money,” NPR writes, “50 Cent added, ‘I’m a keep it real. I forgot I did that s***’.”
TMZ wrote about the deal, noting 50 Cent was the first to accept bitcoin. They estimate that it was valued around $662/bitcoin at the time. Sales generated 700 bitcoin. That’s $7,970,714.50 at the current rate of $11,386.74.
“The story of 50 Cent’s bitcoin windfall is emerging just a few years after the rapper filed for bankruptcy protection under his given name, Curtis Jackson.”
NPR reported in 2016 that, “He says he’s broke, but he posted Instagram photos showing piles of cash in a refrigerator.”
In fact, 50 has posted many photos of himself and his piles of cash.
And that didn’t sit well with the courts. Those legal troubles, though, are behind him now.
The price of bitcoin has been unpredictable in the year’s since his album’s debut. Last month, the price came close to $20,000 and the once obscure bitcoin was enjoying mainstream attention. Back in 2014, it was regularly doubling in value, and then falling again.
50 Cent spoke to Complex magazine recently and talked about the creation of some of his songs. The magazine, weighing in on the bitcoin windfall, wrote “50 has proven his business acumen time and time again. It’s how he got rich and didn’t die trying.”