TMZwas the first to arrogate that the rapper had luckily accept Bitcoin payments for his 2014 album Animal Ambition and for some reason had never cashed them out . The account claim that , at the time of the record album ’s vent , he raked in 700 bitcoins that would ’ve been valued around $ 400,000 . These days they would ’ve been worth nigher to $ 7.8 million . AndMotherboardcrunched the numbers to let in the forks that occurred in the intervening years , which bring in sum up to $ 9.2 million . 50 Cent ’s response was coy . In anow - deletedcomment on Instagram , he write , “ I ’m a keep it literal . I forgot I did that shit . ” Now , however , he exact did n’t really do that diddlyshit .
According to court document obtained byThe BlastandTechCrunch , 50 Cent recently show under cuss that the media news report were misguided , saying , “ I do not in person own , and have not owned , either a Bitcoin write up or any bitcoins . ” While he ’s had plenty of surprise businesssuccessin the past times , he ’s in the midst of failure at the moment , and this sudden find of millions of clam draw the attention of the US Trustee Program and his creditor .
50 Centreportedlysupplied screenshots of his BitPay account that detailed “ a few thousand dollars ’ deserving ” in Bitcoin proceedings . He explain that “ all online transactions involving my firebrand were care by an independently owned and manoeuver third party , Central Nervous LLC , ” and “ the limited Bitcoin transaction that occurred online were processed and convert to U.S. Dollars contemporaneously . ” Womp , womp .
So , why ’d he try out to wreak it up like he really had a big pile of bitcoins that he ’d forgotten ? He excuse in the court documents that he ’s not in the riding habit of discredit taradiddle in the insistence unless they make him look bad . From the documents :
“ When I first became cognisant of the press reputation on this thing , I made social media posts stating that ‘ I forgot I did that ’ because I had in fact forgotten I was one of the first recording artist to accept bitcoin for online transaction . I did not publically deny the reports that I arrest bitcoins because the press coverage was favorable and suggest that I had made million of clam as a issue of my good stage business decision to accept bitcoin payments . ”
It ’s a bummer . 50 Cent ’s story was an antidote to all of the tales of people forgetting their word or literally throwing away millions of clam deserving of Bitcoin in atrash rubbish dump . But regrettably , he seems to have cash out years ago like the quietus of us rubes who miss the large crypto - wave of 2017 .
[ TechCrunch ]
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