50 Cent discovers his long forgotten stash of Bitcoin now worth $8M

50 Cent has discovered that he is a Bitcoin millionaire, thanks to some long-forgotten album sales.

In 2014, he released the album Animal Ambition and became the first artist to accept Bitcoin as payment.

The rapper received more than 700 Bitcoins under the deal, but then forgot about the cryptocurrency, according to celebrity newsite TMZ.

The hoard is worth $7-$8m, although the currency's price volatility means that could change fast.

In 2014, one Bitcoin was equivalent to about $662, but was worth about $11,200 on Thursday according to Coindesk.

"Not bad for a kid from South Side, I'm so proud of me," 50 Cent - whose real name is Curtis Jackson - wrote on Instagram, confirming the news in a post that featured a screenshot of the TMZ article.

50 Cent also posted a picture of himself on Instagram surrounded by Bitcoins, with the caption: "A little bit coin anyone? LOL. l know l make you sick but excuse me I'm getting to the bag."

50 Cent released Animal Ambition through his G-Unit Records, along with Virgin's Caroline Records. His fifth album, it fell far short of the huge sales figures of his first album, Get Rich or Die Tryin'. But in a twist, one partial explanation for that slump — the digitizing of a medium that was once exclusively material — also helps explain why its proceeds are now worth millions, as bitcoin's value has risen to stratospheric heights.

Animal Ambition included songs such as the now-ironically-named "Chase the Paper." 50 Cent described it to Complex magazine as being about prosperity and entrepreneurial energy.

In an update on the album's bitcoin proceeds this week, Complex noted, "50 has proven his business acumen time and time again. It's how he got rich and didn't die trying."