50 Cent has made millions selling his music for Bitcoin 4 years ago

50 Cent has made millions selling his music for Bitcoin

The rapper accepted cryptocurrency as payment for Animal Ambition, it was priced at $662 a coin at the time.

The P.I.M.P. artist, 42, was accepting Bitcoin payments four years back when he released Animal Ambition in June of 2014.

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At the time, the Den of Thieves star was willing to accept cryptocurrency, which was priced at $662 per Bitcoin at the time. A fairly rogue move considering the lack of mainstream legitimacy extended to Satoshis at the time.

The In da Club rapper, whose real name is Curtis James Jackson III, was paid a rough total of 700 Bitcoin for the album, about $400,000 in fiat sales.

50 Cent attends the premiere of Den of Thieves (Credit: Kevin Winter)

 

In the three-and-a-half years that have elapsed since the release of the record, the value of Bitcoin has multiplied from $662 each $11,022.77, as of Coindesk at 10:28 this morning.

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The rapper did not sell any of his blockchain earnings. They are now worth approximately $7 million to $8.5 million.

If he'd have sold them at the crypto's all time high in December, roughly a $20,000 peak, his coins would be worth $14 million.

The Cboe Global Markets exchange became the first in the Unites States to begin trading Bitcoin futures(Credit: Scott Olson)

 

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The If I Can't artist took to Instagram Tuesday to boast, writing: "A little bit coin [sic] anyone ? LOL. I know I make you sick but excuse me I’m getting to the bag."

"Not Bad for a kid from South Side, I’m so proud of me," he added.

The rapper/investor scored a similar cash crop in 2007, of around $100 million, when his stake in VitaminWater shot up in value after a buy out by Coca-Cola.

It's a big financial turnaround for the Candy Shop performer, after he filed for bankruptcy during July of 2015 in Connecticut, saying that he had about $10 million to $50 million in both assets and liabilities.

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