Rapper 50 Cent made approximately $8 million in bitcoin. The "In Da Club" singer gave his fans the opportunity to buy his 2014 album Animal Ambition using the cryptocurrency as a worldwide payment system.
50 Cent did not bother to check his bitcoin account for years. He recently did so and learned that he has earned at least $8 million. Four years ago, a single bitcoin cost $662, and the rapper's fans were able to buy his album for a fraction of the amount. In total, he earned $400,000 from his album sales.
Since 2014, the value of bitcoin has soared. Earlier this month, a bitcoin was already valued at $17,000 but this figure dropped to $10,000 in recent weeks. Since 50 Cent has not touched his bitcoin account, his $400,000 is now valued at $8 million.
— 50cent (@50cent) January 23, 2018
The "Candy Shop" rapper confirmed the news via his social media account and said that he is proud of himself for earning such a huge amount. He also admitted to not remembering his bitcoin account until recently.
Bitcoin is the first decentralized digital currency in the world since the system works without a central bank or a single administrator. The transactions take place between two people and without an intermediary. Bitcoin was invented by a group of people under the name Satoshi Nakamoto, and it was first launched in 2009.
50 Cent's Business Ventures
This is not the first time that 50 Cent had entrepreneurial success. The "Still Think I'm Nothing" singer previously invested in Glaceau Vitaminwater, which Coco-Cola later acquired for $4.1 billion. He earned $100,000 from this deal. The rapper, whose real name is Curtis Jackson, also has a successful clothing line, a range of dietary supplements and a real estate business.
50 Cent is also the founder of SMS Audio, a company that creates headphones. The enterprise, which was founded in 2011, also partnered with Reebok and Marvel. During his previous interview, the rapper also shared what he has learned about business from his headphones company.
"The majority of the time I've been involved with business, I've dealt with companies that were past the startup point. Because at the point where they're looking for a celebrity to endorse the product, they have already made it to retail, made profit, and it could be that they're at the end, said 50 Cent. "A lot of artist-associated headsets are done out of desperation. They need to do something that will turn it around, and they choose an artist that is not necessarily influential enough."