50 cent bitcoin story
Novels have been penned as odes to it; movies filmed as homages; songs sung to express the ineffable joy of becoming a functioning cog in our great capitalist machine. But the best version of the American Dream did not come unspooled from the minds of our greatest writers, or artists, or thinkers—no, no. The best version of the American Dream is much less sophisticated than all that. The best version of the American Dream is 50 Cent forgetting he's accidentally a Bitcoin millionaire.
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- 50 Cent admits he isn't a bitcoin millionaire, he just went along with the press reports
- 50 Cent 'forgot' he had bitcoin—now it's worth over $7 million
- 50 Cent Comes Clean About ‘Owning’ Millions In Bitcoin
- Rapper 50 Cent forgot he had 700 Bitcoins as part of an album deal
- 50 Cent Forgot He Was Paid In Bitcoin For Album, Turns Out He's $9 Million Richer
- 50 Cent ‘forgot’ about his bitcoin collection that’s now worth millions
- 50 Cent is now worth millions, thanks to bitcoin - but for how long?
- 50 Cent, Accidental Bitcoin Millionaire, Is the Best Version of the American Dream
- Did 50 Cent Get Millions in Bitcoin?
- Here’s what could happen after Bitcoin runs out of supply
50 Cent admits he isn't a bitcoin millionaire, he just went along with the press reports
He's now saying he never had it at all. In January, Jackson shared to his social media accounts a TMZ report claiming the rapper had raked in around bitcoins during a album sale. Now, however, Jackson is swearing there is no fortune. On Friday, under penalty of perjury, the rapper filed documents relating to his Chapter 11 bankruptcy case to clarify that he doesn't own, "and have not owned, either a bitcoin account or any bitcoins. The filing — which specifically calls out the report from TMZ that claimed Jackson had pulled in nearly bitcoins for the sale of his album "Animal Ambition" — states that any bitcoins received for the album were "contemporaneously" converted into dollars.
It further clarifies that the third-party in charge of processing purchases, Central Nervous, used BitPay, a company that specializes in processing payments with bitcoin for purchases large and small, including Lamborghinis , to convert bitcoin into dollars before any profits reached Jackson's company G-Unit Records.
I forgot I did that s Jackson explains in the filing that he didn't feel the need to immediately clarify the initial reports on his estimated fortune because his comments were, at least partly, true. He adds that he generally would never deny reporting that is "favorable to my image or brand.
This is not the first time the rapper made famous by his debut album "Get Rich or Die Tryin'" has gotten in trouble after using social media for that purpose.
A different Instagram post, in which Jackson posed next to stacks of cash, landed the rapper in hot water during bankruptcy proceedings after the judge handling his case raised concerns of financial non-disclosure. What does matter is that the decision to convert bitcoin to dollars at the time of payment appears to mean Jackson never was a bitcoin millionaire, no matter how much he may have later enjoyed looking like one.
Like this story? Don't miss: 7 illegal ways some Americans admit they try to save on taxes. Skip Navigation. Shannon Smith, Contributor. Curtis '50 Cent' Jackson. VIDEO Make It.
50 Cent 'forgot' he had bitcoin—now it's worth over $7 million
The court documents were first obtained by The Blast , but I tracked them down as well. All online transactions involving my brand were handled by an independently owned and operated third part, Central Nervous LLC.. Dollars contemporaneously, based upon the then-existing exchange rate…. Why, then, did he not deny the reports at the time, if he knew they were not true? Later in the same document he explains a well-understood rule of show business:.
50 Cent Comes Clean About ‘Owning’ Millions In Bitcoin
Bill Chappell. Alongside emojis of a sack of money and a person holding up their hands in a "What? In an additional comment that could either amaze or exasperate people who would love to find a pile of money, 50 Cent added, "I'm a keep it real. The story of 50 Cent's bitcoin windfall is emerging just a few years after the rapper filed for bankruptcy protection under his given name, Curtis Jackson. As NPR reported in , "He says he's broke, but he posted Instagram photos showing piles of cash in a refrigerator. Back when 50 Cent released his album, bitcoin was mostly known as a "virtual currency" that was still trying to push its way into the mainstream. The game company Zynga accepted it for some purchases, as did Dell and electronics retailer Newegg — and by the end of the year, so did Microsoft.
Rapper 50 Cent forgot he had 700 Bitcoins as part of an album deal
These are the core obsessions that drive our newsroom—defining topics of seismic importance to the global economy. Our emails are made to shine in your inbox, with something fresh every morning, afternoon, and weekend. Today is Bitcoin Pizza Day. Bitcoin was less than two years old when Laszlo Hanyecz decided to spend some of the coins he had mined on some real-world goods.
50 Cent Forgot He Was Paid In Bitcoin For Album, Turns Out He's $9 Million Richer
Celebrity gossip website TMZ reported that 50 Cent, real name Curtis Jackson, raked in about bitcoins after agreeing to accept payments in the volatile digital currency for his fifth album. Jackson, one of the first high profile musicians to accept bitcoin in exchange for music, confirmed his windfall on social media. The rapper then said that he had forgotten all about selling his fifth album for bitcoins until now. One year later, in , he filed for Chapter 11 bankruptcy after some of his other big investments, including a bid to come out with his own line of headphones, went sour. The rapper was an early investor in Glaceau, the vitamin water company that Coca-Cola Co. Now that cryptocurrencies have soared in popularity, many other musicians are beginning to accept virtual coin payments for songs.
50 Cent ‘forgot’ about his bitcoin collection that’s now worth millions
So, he sent hundreds of dollars. Then thousands. Then he started telling friends and family, who sent even more money. When [the scammer] had all our money at the same time, that's when she disappeared. It's caused immense stress and embarrassment, and some of his friends still don't talk to him. I'd shown them my profits, and I was actively promoting it, almost like a salesman for her," he says. Scammers like to use Bitcoin and other cryptocurrencies because transactions are irreversible and don't require disclosure of personal details. We know people who have lost millions,'" he says.
50 Cent is now worth millions, thanks to bitcoin - but for how long?
As recently as , rapper Curtis "50 Cent" Jackson claimed to be flat broke. The second-wealthiest rapper in history meekly pleaded his case in bankruptcy court. But less than three years later, the man who went from rags to riches to rags again is again a millionaire — many times over, in fact.
50 Cent, Accidental Bitcoin Millionaire, Is the Best Version of the American Dream
RELATED VIDEO: 50 Cent Makes $8.5 million From Bitcoin \Now, at the beginning of , he's found out that he accidentally became a bitcoin millionaire. A lot can happen in two years. TMZ reports that when the rapper released his album Animal Ambition, he accepted payment in the form of bitcoin. In those long ago days, people weren't hungrily chasing cryptocurrency fluctuations like they do today. Then, it just sat there. Lol," 50 Cent said in an Instagram comment after the story broke.
Did 50 Cent Get Millions in Bitcoin?
Newser — 50 Cent just might be the world's greatest businessman that bit of bankruptcy notwithstanding. Back in , 50 Cent released his fifth album, Animal Ambition. It didn't sell well and probably wouldn't be worth mentioning except that the rapper decided to accept bitcoin as payment to—as per the International Business Times —"stay with the times. Sources tell TMZ that 50 Cent left his digital stack of bitcoin sitting in his account in the years since Animal Ambition —despite being officially bankrupt between and Or, as the Guardian puts it: "Nothing has any point any more. We should all just give up. Breaking News.
Here’s what could happen after Bitcoin runs out of supply
We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. In , rapper 50 Cent let people buy his album Animal Ambition using bitcoin. A little bitcoin anyone?
I accept it with pleasure. An interesting topic, I will take part. Together we can come to the right answer. I'm sure.
Yes, that's right.
I apologize for interrupting you; the suggestion has been made that we should take another route.
In this nothing there is a good idea. Ready to support you.