When it comes to successful and innovative business ploys, we usually turn to Dr. Dre before 50 Cent, but the latter rapper has a distinctive option for purchasing his new album Animal Ambition. Visitors to 50 Cent's Shopify store can purchase the new record using Bitcoin, the biggest name in the new economic trend of cryptocurrencies.
We're not money writers, but finance journalists we trust seem to suggest that cryptocurrencies aren't a smart deal. Nonetheless, the rapper was praised for his decision by CoinDesk, the world's largest hub for Bitcoin-based news and analysis.
"Given Jackson's noted activism as an investor, it's possible that the move signifies the rap star's larger interest in digital currencies," the site said. "For example, by accepting bitcoin as payment for copies of 'Animal Ambition', the venture provides Jackson with an interesting way of accruing BTC (an an abbreviation for the currency)."
Noted activism as an investor including, among other things, the headphone line referenced above.
As the other article referenced above indicates, Bitcoin is a risky strategy to striking it rich. One theory is that 50 is getting desperate. Animal Ambition is projected to sell less than 35,000 copies during its first week of sales, suggest a huge decrease in relevance for the rapper.
Fortunately most of the internet won't hear about sales trouble because it's too distracted by his first pitch debacle at Citi Field last week, a screw-up that he admittedly handled with good humor. Until he blamed it on masturbating too much this week.