INTERNATIONAL - In a court document obtained by The Blast, Rapper 50 Cent admitted that he did not make $8 million in bitcoin by accepting the cryptocurrency as a form of payment for his album Animal Ambition back in 2014.
TMZ made the initial report the rapper admitted to the bankruptcy court that he has never owned bitcoin.
According to the document, 50 cent said, “so long as a press story is not irreparably damaging to my image or brand, I usually do not feel the need to publicly deny the reporting.”
He also added that media reports "falsely stated" that he owned millions in cryptocurrency, and that he has "never owned, and does not own, a bitcoin account or any bitcoins".
The rapper has previously flaunted his bitcoin “wealth,” through a series of Instagram and Twitter posts.
In one of the posts, the rapper captioned, “Not bad for a kid from South Side. A little bitcoin anyone?" under one of his pictures.
However, these tweets and Instagram post have been deleted.
- BUSINESS REPORT ONLINE