50 Cent Becomes Bitcoin Millionaire, Forgets He Invested 4 Years Ago
Rapper allowed fans to purchase the album, Animal Ambition using Bitcoin
Hip Hop rapper 50 Cent has become a Bitcoin millionaire after discovering he invested in the cryptocurrency in 2014 for next to nothing.
Just 4 years ago, the rapper - real name Curtis Jackson - allowed fans to purchase the album, Animal Ambition using Bitcoin, racking up more than 700 BTC (worth around $400,000 at the time).
Jackson now has over between $7m and $8.5m in bitcoin.
As cryptocurrencies other Ethereum and Lite Coin continue to grow, other entertainment stars like star Keanu Reeves have claimed the currency will "destroy the global elite" and "give power back to the people."
IBtimes reports: On Tuesday (23 January) he told his 17 million Instagram followers: 'Not bad for a kid from South Side, I'm so proud of me. LOL." In the comments, confirming a report that his account was dormant for years, he added: "I'm a keep it real I forgot I did that sh*t."
A photoshopped image posted to social media showed the popular rapper smiling in front of floating bitcoins.
He wrote: "A little bit coin anyone? I know l make you sick but excuse me I'm getting to the bag."
News quickly spread across Reddit and social media channels. Back in 2015, Jackson ran head-on into a plethora of legal issues, being sued by Lastonia Leviston for $7m after posting a sex tape of her and a partner.
Shortly after, the business-savvy rapper filed for bankruptcy and was later ordered – as part of a repayment plan – to pay Leviston $6m.
He filed for chapter 11 reorganisation – paying debts but retaining business control – citing solvency issues. In February last year, he emerged from bankruptcy after paying out $22m (£17.6m). The same month, it emerged he was suing his own legal team for $32m for losing the case.
While his new-found bitcoin stash could prove to come in handy, Jackson is no stranger to the investment game. In 2007, Coca-Cola purchased Vitamin Water from Glaceau – a firm in which the rapper held a minority stake – for $4.1bn. Jackson earned up to $100m from the deal.
"This guy invested in Vitamin Water and bitcoin. Basically a gangsta version of Warren Buffet," wrote one commenter on Reddit Tuesday. Another jokingly added: "Get Rich or Die HODLing."