Rapper 50 Cent admitted recently that he made approximately $8 million in Bitcoin after accepting the digital currency as a payment method for his 2014 album, “Animal Ambition.”
50 Cent received approximately 700 Bitcoins for the 2014 album. At the time of payment, one Bitcoin was trading for around $662. Today, 50 Cent’s Bitcoin stash is worth approximately between $7 and $8.5 million.
In a since deleted Instagram post, 50 Cent admitted that he forgot that he had the Bitcoin. “Ima keep it real, I forgot I did that shit lol,” he wrote in a comment on the post. The lapse of memory might have served him well. Had 50 Cent cashed out his Bitcoin earnings in 2014, he would have made only $400,000.
In a post on Twitter, he linked a TMZ article about his cryptocurrency earnings and wrote: “A little bitcoin anyone? LOL. l know l make you sick but excuse me…I’m getting to the bag.”
50 Cent has a history of smart investments. In the 2000’s, his investment into VitaminWater earned him approximately $100 million (after taxes) when the product’s parent company was sold for $4.1 billion.