The fluctuating and declining rates of bitcoin may be really frustrating for those who just recently invested. But rapper 50 Cent is already reaping the fruits of his early bitcoin investments. From $400,000 in 2014, now he is reportedly sitting on a whopping $7 to $8.5 million cash from bitcoins.
In his recent Instagram post, 50 said, “Not Bad for a kid from South Side, I’m so proud of me.” He was pertaining to his bitcoin windfall. He claims this even came unexpectedly as he commented on the same post, “I’m a keep it real. I forgot I did that s***.”
Seems agreeable since his initial investment dates back to when he accepted payments for his album Animal Ambition in 2014. He is one of the first artists to accept bitcoins as payment for his work instead of cash. At that time when cryptocurrency was not yet known to everyone, the value of bitcoin was at around $662 each. His album reportedly earned 700 bitcoins or $400,000 in cash at 2014 rate.
Since then, the value of bitcoin has been volatile. 50 never touched it and the value kept surging. Today, one bitcoin is equivalent to between $10,000 to $12,000 which made him richer by between $7 to $8.5 million cash. It even reached nearly $20,000 last month!
Recently, bitcoin’s rate is steadily going downhill. Still and all, as a real money genius, 50 Cent would surely know what to do with his fortune.