When we first came across the news that 50 Cent has made millions, yes, millions after selling his music for bitcoin, our reaction was a mixed-bag of confusion and laughter. Confusion because this whole bitcoin thing still evades us and laughter, well, because it's 50 cent — the man who's music was the soundtrack to many a sweaty, awkward middle school dance. You guys can't deny that It's a fairly comical thing to realize that the rapper responsible for "Candy Shop" is, in fact, a savvy AF businessman. It's not that the two are mutually exclusive, just unexpected is all. So, the real question remains, how the heck did he do it?
According to JOE, 50 Cent, who's real name is Curtis James Jackson III, began accepting bitcoin as payment for his music about four years back. He was paid 700 Bitcoin for his album, "Animal Ambition". Comparatively speaking, 700 bitcoin is $400,00 in fiat sales (currency that a government has declared to be legal tender, but it is not backed by a physical commodity).
Following along so far? OK, so how did that become millions? Pretty simple actually, at the time of "Animal Ambition" bitcoin was valued at $662 each. Now, three plus years later, it's valued at $11,022.77 each, as per Coindesk. JOE continued that 50 has yet to sell any of his blockchain earnings, which, are now valued at a whopping 7-8.5 million.
Had he sold them during December's crypto peak, where bitcoin was valued at $20,000 each, he would have walked with away with a cool $14 million. Now, we're not suggesting that you take 50's lead. After all, he had plenty of money to start with. That being said, it wouldn't be a bad move to brush up on all things cryptocurrency, you know, just in case.
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