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Did 50 Cent Get Thousands and thousands in Bitcoin?

What are two issues that have been as soon as family names that you simply don’t hear a lot about today? Bitcoin and 50 Cent. Nonetheless, each should still be extra related than their latest relative obscurity would lead you to imagine.

The cryptocurrency is now not grabbing headlines, however it was definitely a scorching merchandise that had many individuals — together with celebrities — investing.

In the meantime, 50 Cent is now not filling the airwaves, however he’s nonetheless among the many most well-known hip hop artists on the music scene.

The opposite connection between these two is a rumor that 50 Cent made a clever funding in bitcoin that paid off in a significant means. Is there any fact to the declare? Let’s take a better look.

50 Cent crashed into monetary issues

As soon as on the prime of the rap recreation, 50 Cent fell into monetary onerous instances resulting from some poor resolution making. When he was discovered legally liable for leaking a lady’s intercourse tape, he was dealing with a $5 million court docket superb. Across the identical time, he acquired caught up in authorized battles over unpaid youngster assist. At one level, he was $32.5 million in debt.

As he confronted these repercussions, he ended up submitting for private chapter, a proven fact that was made all of the extra unbelievable by his as soon as staggering $150 million internet price.

50 Cent is much from the one superstar who has gone broke, however there have been a number of classes to be discovered by his explicit path to chapter. Many noticed the monetary smash as a pure consequence of the rapper straying too removed from his skills by taking up appearing in addition to music and by displaying immense immaturity when he launched the intercourse tape as a jab at rap rival Rick Ross.

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Rumors swirled that 50 Cent had invested in bitcoin

Within the midst of his monetary downfall, rumors swirled that 50 Cent had made the weird option to receives a commission for his 2014 album in bitcoins. This wouldn’t be utterly unparalleled.

In spite of everything, Beyoncé as soon as acquired paid in Uber shares as a substitute of {dollars}, and that funding paid off for her. Over time, many have speculated that 50 Cent’s distinctive fee plan had paid off and that the star had made $eight million from his bitcoin funding.

Nonetheless, it seems that the rumors have been unfaithful. In authorized paperwork surrounding his chapter, 50 Cent made it clear that not solely did he not make tens of millions from the transaction, he by no means even owned any bitcoin to start with. Why didn’t he set the report straight when the rumors started? He figured that any constructive press was good press, even when it was inaccurate.

Bitcoin has been a risky funding

There are plenty of complicated and misunderstood beliefs about bitcoin, however that hasn’t stopped many celebrities from investing within the cryptocurrency. Those that have made the selection to place a few of their earnings into the brand new and untested forex embody Ashton Kutcher, Richard Sherman, and former Spice Woman Mel B.

A variety of these investments have paid off although not essentially within the flashy ways in which many speculated they’d. Richard Sherman, for instance, regrets cashing his bitcoins in when he did as a result of he thinks he may have made extra. Nonetheless, he turned a $1,000 funding into $20,000.

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A variety of celebrities who’ve invested in bitcoin and different cryptocurrencies are nonetheless holding onto their investments and taking part in the lengthy recreation. Some, together with Mel B, have turn out to be spokespeople for corporations designed to make cryptocurrencies extra obtainable and even settle for bitcoin funds for their very own creative merchandise.

Judie Simms


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