50 Cent Has Made Millions in Bitcoin Thanks to ‘Animal Ambition’ Album Sales
The Bitcoin market has been on a decline as of late but is still currently valued at around $11,000 per bitcoin. While recent purchases of the cryptocurrency may not net you much in return today, 50 Cent's previous investments may have earned him close to $9 million.
According to a report from TMZ, in 2014, 50 became the first artist to accept Bitcoin payments for his album Animal Ambition. Then valued at around $662 per bitcoin, 50 brought in about 700 bitcoins in sales, which was over $400,000. The cryptocurrency reportedly sat dormant in 50's account for a few years until today, where it is now valued between $7 million and $8.5 million.
While it's uncertain if 50 Cent has sold his Bitcoins, the rapper may want to do it sooner than later. In just a few weeks, the value of a Bitcoin has dropped from $17,000 to a low of $9,000. As of late, the market has fluctuated around $10,000 to $12,000.
The rapper commented on the story on his Instagram, sharing a screenshot of the report and writing, "Not Bad for a kid from South Side, I'm so proud of me LOL."
In related 50 Cent news, the rapper is gearing up for the release of his next project, Street King Immortal. In a recent interview with the New York Times, 50 said he's still working on the album but has big goals for it. “Right now I’m in the middle of recording my sixth album,” he said. “But it’s as thrilling as my first.”
No word yet if 50 will accept Bitcoin for Street King Immortal.
See New Music Releases for January 2018