After Filing Bankruptcy, 50 Cent Realizes he's a Bitcoin Millionaire: How Much did he Make?

Updated On 24 Jan, 2018 Published On

According to TMZ, rapper 50 Cent has become a bitcoin millionaire by accident. The American rapper had collected more than 700 bitcoins as part of the sales of his fifth album, Animal Ambition, released in June 2014.

Rapper 50 Cent, who filed for bankruptcy in 2015, has made more than $7,000,000 from bitcoinsRapper 50 Cent, who filed for bankruptcy in 2015, has made more than $7,000,000 from bitcoins

Source: TMZ

When the album was launched, the value of a bitcoin hovered at $657. For the 700 bitcoins that 50 Cent (Curtis Jackson) racked in, he earned roughly $460,000. Rather than selling it all immediately, the rapper saved it. Now, with bitcoin’s value soaring in recent months, his bitcoin haul is now worth $7,770,000.

The rapper was reportedly among the first artists to accept bitcoins back then.

50 Cent confirmed his bitcoin profit in an Instagram caption:

"Not Bad for a kid from South Side, I’m so proud of me," followed by the comment "I'm a keep it real I forgot I did that shit. Lol." A later Instagram post showed bitcoin imagery with the caption "all moneys is good money over here."

The news comes more than 2 years after it was disclosed that 50 Cent had gone broke. In 2015, he filed for Chapter 11 bankruptcy, which led him to restructure his finances. He then was given 5 years to pay off a debt of $23 million. However, he cleared that debt within a year.