DURBAN - TMZ has reported that 50 Cent was the first rapper to accept bitcoin payment.
50 Cent whose real name is Curtis James Jackson III accepted bitcoin as payment for his fifth studio album Animal Ambition, upon its release in 2014. The album reportedly earned 50 Cent a total of 700 bitcoins in 2014. Each bitcoin had a value of $662 so he made an estimated $463 000 in sales.
According to TMZ sources, the rapper left the bitcoin to sit in his account for years. The cryptocurrency bitcoin then rose from being relatively unknown to evolve into a money-printing machine.
The current value of one bitcoin is $11000 which now sees the rapper's bitcoin worth over $7 million.
He revealed in an Instagram post on Tuesday the true nature of his wise investment "I'm a keep it real I forgot I did that sh*t. Lol".
Now the whole thing has worked out in his favour. People have taken notice that 50 Cent has managed to take one of his lowest selling albums and turn it into a financial success.
The rapper has come a long way since he announced that he was bankrupt. Last year he also sold a $60 million stake in Effen Vodka.
- BUSINESS REPORT ONLINE