by Moxye Staff
Curtis Jackson, better known by his rap alias 50 Cent, has built up one of the most impressive resumés of all time. He dominated the hip-hop scene in the early 2000s, started world-famous rap clique G-Unit, and now he’s a bitcoin millionaire.
Apparently years ago while you were all snoozing on the future cryptocurrency fad, rapper 50 Cent “took a chance” on Bitcoin and started accepting the digital coin as payment for his music.
That’s right, even legendary emcees are hopping on the cryptocurrency bandwagon, though 50 Cent’s crypto chronicles began completely unintentionally. According to a report from the Los Angeles Times, the rapper was one of the first major musicians to accept bitcoin payments for his 2014 album Animal Ambition.
Sales for his fifth studio album were pretty underwhelming compared to his previous projects. But of the 205,000 copies sold, a portion were paid for in bitcoin, netting 50 Cent about 700 bitcoins.
In mid-2014, the price of each coin was about $662, meaning he was paid a relatively paltry $450,000. Now with bitcoin’s value hovering above $10,000 — though with huge fluctuations between the current relative lows and previous highs of nearly $20,000 — Jackson’s cryptocurrency stash is worth somewhere between $7 million and $8 million.
That’s not even the wildest part. After the news broke that 50 Cent might have millions of dollars worth of bitcoin parked somewhere, he admitted he had completely forgotten his wallet full of cryptocurrency.
While there’s no word yet on whether 50 Cent will cash out or hodl, this could prove to be quite the windfall for the previously bankrupt performer, who in 2017 agreed to pay $23 million over five years to settle outstanding debts.
Back when he first decided to accept bitcoin as payment for his album, 50 did a Reddit Q&A where fans asked him about the move. His response was nothing short of prophetic.
“Stay with times,” he wrote. “Technology is what’s changing the business gotta get with it. I take money no matter if its coins or dollars.”
And take the money he did. Now cue “Ayo Technology” and make it rain cryptocurrency, 50 Cent.