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50 Cent Reportedly Made Millions By Accepting Bitcoin Payments

23 janvier 2018

50 Cent Reportedly Made Millions By Accepting Bitcoin Payments

Instagram/50cent

 

50 Cent was a music industry pioneer in accepting Bitcoin as currency, and it paid off in a big way. According to TMZ, 50’s profits from Bitcoin for his 2014 album Animal Ambition are now valued at between $7 million and $8.5 million.

“A little bit coin anyone ? LOL,” 50 wrote on Insatgram after the report surfaced on Tuesday (January 23). “l know l make you sick but excuse me I’m getting to the bag #denofthieves.”

In 2014, Bitcoin was valued at around $662 per unit – a stark contrast from its current price tag of over $10,000. The G-Unit frontman’s team added a “Bitcoin payments” option to his Shopify store, allowing fans to use cryptocurrency through Bitpay.

The album was sold for just a fraction of a single Bitcoin and generated over 700 Bitcoin in sales, translating to $400,000. According to the report, 50 hasn’t touched that money since has allowed its value skyrocket in subsequent years.

JAY-Z and Nas also embraced Bitcoin early on in 2014, with JAY-Z allowing a Chicago ticket broker to sell concert tickets in exchange for bitcoin for his Soldier Field concert. Nas invested heavily in the cryptocurrency through his venture capital firm.

by Daniela Evgenivna

SOURCE: https://hiphopdx.com/news/id.45766/title.50-cent-reportedly-made-millions-by-accepting-bitcoin-payments

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