50 Cent Accidentally Makes Millions in Bitcoin

It’s normally difficult for someone to forget about their money. But 50 Cent is no normal person as he completely forgot about his Bitcoin investment, and didn’t realize until recently that he’s made millions in the cryptocurrency.

As TMZ reports, Fif became the first rapper to accept payment in Bitcoin for his 2014 album “Animal Ambition”. Back then, Bitcoin wasn’t as popular as now, though a unit of the cryptocurrency was already worth hundreds of dollars. With one unit valued at between $650-$700, he raked in about 700 Bitcoin which was worth only about $400,000 at the time.

The money remained untouched for years, causing Fif to become a millionaire today. With Bitcoin currently valued between $10,000 and $12,000 per unit, the rapper now has $7 million – $8.5 million in his account.

Fif acknowledged the TMZ report in some social media posts. “Not bad for a kid from South Side, I’m so proud of me,” he said in an Instagram post. “A little bitcoin anyone? LOL. l know l make you sick but excuse me…I’m getting to the bag,” he said in another post shared on Twitter.

While demands for Bitcoin have soared high since Fif earned it through the sales of his 2014 album, the price has been declining in the past few weeks. Last month, it reached nearly $20,000 before it dropped to $11,000 recently. So, what do you think of Fif’s windfall? Should he sell his Bitcoin now, or should he wait longer?

6 thoughts on “50 Cent Accidentally Makes Millions in Bitcoin

  • January 25, 2018 at 7:52 pm
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    Short for “I’m gonna”, which is itself short for “I’m going to”.
    You can essentially read it as “I will”.

    Reply
  • January 28, 2018 at 6:53 pm
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    It would have been “100% intentional and a long-term gamble” if he had made a conscious decision to sit on the Bitcoin for a few years, expecting its value to soar, and then cash in. He didn’t. He fully admits that those 700 Bitcoins were something he had forgotten he had. It wasn’t a deliberate investment strategy.

    He just got the Bitcoin, didn’t cash in at the time, probably because he thought it wasn’t worth the bother, only to then see its value shoot through the roof.

    Reply
  • January 29, 2018 at 8:33 pm
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    Why would it be exactly zero dollars?

    All he needs is a Coinbase account or someone he trusts with one. (Sure, there are better and faster ways than Coinbase for that much, but I’m just talking about the minimum that could be done). He might not be able to liquify it all in one quick step, but worst case, $100k-$200k or so a week until it’s gone. Fees and possible assistance doing it might mean he wouldn’t get the full 8 million, but he’d get a lot more than zero from it easily.
    Bitcoin has an ~$8 billion daily volume. I’m sure selling $8 million isn’t out of the question for 50 cent.

    Reply
    • February 18, 2018 at 9:08 pm
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      lucky for you that’s why i like

      Reply

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