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Did 50 Cent Get Hundreds and hundreds in Bitcoin? | Fintech Zoom

What are two points which were as quickly as household names that you just don’t hear rather a lot about right this moment? Bitcoin and 50 Cent. Nonetheless, every ought to nonetheless be additional associated than their newest relative obscurity would lead you to think about.

The cryptocurrency is not grabbing headlines, nevertheless it was positively a scorching merchandise that had many people — along with celebrities — investing.

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

The alternative connection between these two is a rumor that 50 Cent made a intelligent funding in bitcoin that paid off in a major means. Is there any reality to the declare? Let’s take a greater look. 

50 Cent crashed into financial points

Curtis “50 Cent” Jackson | Albert L. Ortega/Getty Footage

As quickly as on the prime of the rap recreation, 50 Cent fell into financial onerous situations ensuing from some poor decision making. When he was found legally answerable for leaking a girl’s intercourse tape, he was coping with a $5 million courtroom docket very good. Throughout the an identical time, he acquired caught up in approved battles over unpaid teenager help. At one degree, he was $32.5 million in debt.

As he confronted these repercussions, he ended up submitting for personal chapter, a undeniable fact that was made all the additional unbelievable by his as quickly as staggering $150 million web value. 

50 Cent is way from the one famous person who has gone broke, nevertheless there have been quite a lot of courses to be found by his specific path to chapter. Many observed the financial smash as a pure consequence of the rapper straying too faraway from his expertise by taking on showing along with 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

Inside the midst of his financial downfall, rumors swirled that 50 Cent had made the bizarre choice to receives a fee for his 2014 album in bitcoins. This wouldn’t be completely unparalleled.

In any case, Beyoncé as quickly as acquired paid in Uber shares in its place of {dollars}, and that funding paid off for her. Over time, many have speculated that 50 Cent’s distinctive charge plan had paid off and that the star had made $eight million from his bitcoin funding. 

Nonetheless, it appears that evidently the rumors have been untrue. In approved paperwork surrounding his chapter, 50 Cent made it clear that not solely did he not make tens of hundreds of thousands from the transaction, he in no way even owned any bitcoin to begin with. Why didn’t he set the report straight when the rumors began? He figured that any constructive press was good press, even when it was inaccurate. 

Bitcoin has been a dangerous funding 

There are many sophisticated and misunderstood beliefs about bitcoin, nevertheless that hasn’t stopped many celebrities from investing inside the cryptocurrency. Those who have made the choice to put a number of of their earnings into the model new and untested foreign exchange embody Ashton Kutcher, Richard Sherman, and former Spice Lady Mel B. 

A wide range of these investments have paid off though not basically inside the flashy methods wherein many speculated they’d. Richard Sherman, as an example, regrets cashing his bitcoins in when he did because of he thinks he might have made additional. Nonetheless, he turned a $1,000 funding into $20,000.

A wide range of celebrities who’ve invested in bitcoin and totally different cryptocurrencies are nonetheless holding onto their investments and participating within the prolonged recreation. Some, along with Mel B, have grow to be spokespeople for firms designed to make cryptocurrencies additional obtainable and even accept bitcoin funds for his or her very personal artistic merchandise. 

Jung Min-seo

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