50 Cent made millions on a Bitcoin investment he forgot about
When 50 Cent‘s Animal Ambition came out in 2014, it didn’t really make a dent on the charts, but thanks to an investment in Bitcoin, the album has now reportedly netted between $7 and $8.5 million.
The rapper was allegedly the first to accept the cryptocurrency as payment and received 700 bitcoins for the album. At the time Bitcoin was worth roughly $662 a coin, which equaled out to about $463,000 in album sales. In the four years since, Bitcoin’s value has fluctuated, dropping steadily over the first few weeks of 2018. It sits at around $11,000 a coin, which would make 50 Cent’s 700-bitcoin investment worth more than $7 million.
In a 2014 Reddit AMA, 50 Cent said: “Technology is what’s changing the business gotta get with it.”
50 Cent posted the Tuesday TMZ article about his investment to Instagram, and in a comment he claimed he really did forget about it.
https://www.instagram.com/p/BeTjoLEFf-e/
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50 Cent (0.000046 BTC) posted on instagram about making millions of dollars in Bitcoin and forgetting about doing it https://t.co/fycFbwMaUZ pic.twitter.com/aD6VLj3zfS
— Neeraj K. Agrawal (@NeerajKA) January 23, 2018
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H/T Complex
Read more: https://www.dailydot.com/upstream/50-cent-bitcoin-animal-ambition/
Posted from my blog with SteemPress : https://www.nehans.net/a00a/2018/03/18/50-cent-made-millions-on-a-bitcoin-investment-he-forgot-about/
It's amazing how this guy makes successful accidental business moves.
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