Curtis Jackson, also known as 50 Cent, makes an appearance at bankruptcy court on March 09, 2016 in Hartford, CT. Jackson filed for bankruptcy one year ago (pre-bitcoin news) and is now being asked to explain Instagram photos, including one of him next to piles of cash arranged to spell out 'broke.'
Photo by Steve Miller/Getty Images
In 2014, 50 Cent became the first rapper to accept bitcoin as payment for his work, according to TMZ. He was paid about 700 bitcoins for sales on Animal Ambition, which at the time were worth about $662 per bitcoin. Now, those very same bitcoins are worth between $10k and $12k, meaning 50 Cent pulled in anywhere between $7 and $8.5 million for the 2014 album.
If you understand bitcoin (I do), this means that 50 Cent made a wise investment in cryptocurrency, and is now being rewarded for it. As fans are pointing out, it's also a nice bonus on an album that didn't quite do the numbers of its predecessors.
The whole thing is also a nice surprise for 50 Cent, who admitted on Instagram that he actually forgot any of this even happened until TMZ pointed it out, writing "I'm a keep it real I forgot I did that shit" under his original celebratory Instagram.
If you have any more questions about cryptocurrency, please ask Offset.
