Many celebrities have mentioned the benefits of bitcoin and leveraged the asset for certain projects. For instance, 50 Cent, Snoop Dogg and Talib Kweli all sold albums for BTC, but when cryptocurrency prices skyrocketed, 50 Cent told the public he sold his coins as soon as he got them. Many other celebrities from Hollywood and the music industry have used digital assets to help bolster their marketing efforts.
50 Cent: ‘All Money Is Money’
In 2018, cryptocurrency enthusiasts discussed the headlines revolving around hip-hop star Curtis Jackson III, also known as 50 Cent, who accepted bitcoin for his 2014 album. According to reports, 50 Cent’s album called “Animal Ambition” made around 700 BTC ($6.7 million USD at today’s exchange rate) from sales. The album made it to Number 4 on Billboard’s charts and sold a total of 124,000 copies, which was far less than Jackson’s prior album sales.
Years later, when BTC was priced at around $11,000 per coin, 50 Cent shared an Instagram picture of a TMZ article that reported on the artist’s 700 BTC in sales. “Not Bad for a kid from South Side, I’m so proud of me,” the rapper said. “I’m a keep it real. I forgot I did that s—.” When he sold the album in 2014 he explained “all money is money,” when people asked the rapper why he accepted bitcoin.
However, when 50 Cent filed for bankruptcy he told the court and the public an entirely different story. The hip-hop artist explained that he didn’t feel he needed to disclose that he had sold the BTC immediately after the albums were purchased. 50 Cent then claimed he was just stating that he had forgotten about the investment. Read More...