50 Cent made one of the best business decisions in music over the past four years – all thanks to Bitcoin.
The rapper, 42, was accepting Bitcoin payments four years back when he released Animal Ambition in June of 2014, TMZ reported Tuesday.
At the time, the Den of Thieves star was willing to accept fractional bits of the cryptocurrency, which were valued at a rate of about $662 per Bitcoin at the time, according to the outlet.
The In Da Club rapper, whose real name is Curtis James Jackson III, amassed around 700 Bitcoin from the album, totaling about $400,000 in sales during the time frame.
In the three-and-a-half years that have elapsed since the release of the record, the value of Bitcoin has multiplied from $662 each to around $10,000 to $12,000 each, according to the site.
The rapper did not sell off any of his shares, which now are worth approximately $7 million to $8.5 million with the currency’s surge in value.
The If I Can’t artist took to Instagram Tuesday to boast about the savvy business move, writing in a series of posts, ‘A little bit coin anyone? LOL. l know l make you sick but excuse me I’m getting to the bag.’
He added, ‘Not Bad for a kid from South Side, I’m so proud of me.’
The rapper/investor had scored a similar cash coup in 2007, coming up about $100 million when his stake in VitaminWater shot up in value when the company was bought by Coca-Cola.
It’s a big financial turnaround for the Candy Shop performer, after he filed for bankruptcy during July of 2015 in Connecticut, saying that he had about $10 million to $50 million in both assets and liabilities.
His legal team said at the time, ‘This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.’
The P.I.M.P. performer is one of many famous faces that steered an eye toward digital currencies, as other entertainers who have expressed interest in comparable investments include Jamie Foxx, Ashton Kutcher, The Game and Paris Hilton, according to Time.
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