Rapper 50 Cent says he accepted bitcoin as payment for his 2014 album “Animal Ambition.”
The 700 bitcoin he raked in are now worth between $7 million and $8.5 million, and he reportedly hasn’t offloaded his stake yet.
50 Cent has figured out a way to make a killing in the struggling music industry, and it involves everyone’s favorite cryptocurrency.
The rapper, best known for his string of chart-topping hits in the early 2000s, says that he accepted bitcoin as payment for his 2014 album “Animal Ambition,” according to a report from TMZ. It was worth roughly $662 a coin back then, and TMZ sources say 50 Cent was able to rake in a total of 700 bitcoin.
Now that the red-hot cryptocurrency has exploded higher, trading around $11,300, his 700-bitcoin stash is worth somewhere between $7 million and $8.5 million, TMZ calculates.
This isn’t the first time 50 Cent has found himself in a lucrative investment situation. About a decade ago, he became a minority shareholder and celebrity spokesperson for VitaminWater, only to make a whopping $100 million after taxes after its parent company was purchased for $4.1 billion,
Source:: Businessinsider – Technology