The famous rapper 50 Cent once famously exclaimed that the greatest business decision he ever made was “not getting married“. There is certainly a lot of truth to that statement. After all, how many other ways are there to guarantee the safety of your wealth than not signing yourself up for a big (potential) divorce payout?
Well, as of 2018, the man responsible for the ‘In Da Club‘ megahit of 2003 might have found his silver medal of all business decisions. In 2014, a lifetime ago in the world of cryptocurrency, 50 Cent was somewhat of a pioneer for accepting Bitcoin payments for his ‘Animal Ambition‘ album.
Now, despite the significant drop in value of Bitcoin from it’s December 2017 highs of nearly $20k, his crypto holdings from the four year old albums sales are reportedly worth over $7 million. And get this, he claims to have forgotten about it for quite some time.
‘Animal Ambition’ raked in around 700 bitcoins, which were worth a few hundred thousand at the time, but are now worth over $7.5 million dollars at the current rate. Just as a reminder, that would have been well over $10 million during the December 2017 highs.
What makes this story even more astounding is that Curtis Jackson (the real name of 50 Cent) had filed for bankruptcy protection just a few short years ago, after a series of unprofitable business ventures. Fortunately for him, when the album came out, the rapper claimed that he wanted to accept bitcoins as a way to “stay with the times.”
That sentiment has paid off handsomely for 50 Cent, since when his album was released in the summer of 2014, one bitcoin was worth “just” $600 while it’s now over $10,000 in the winter of 2018. This is another demonstration of great business acumen, and how being an early adopter of revolutionary technologies can be immensely profitable for entrepreneurs in the long run.
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