50 Cent's Bitcoin Bet A Million Dollar Boon- Unkrypted

by Ricky Makan Co-Founder at Unkrypted

The ultimate hodler

Actor, Rapper and entrepreneur Curtis Jackson, better recognized as 50 Cent’s, appears to have gathered a small fortune in the volatile digital currency.

As TMZ (a celebrity news website) first reported, Jackson comes out to be the latest in a series of celebrities and other forward-thinking shareholders who are now Bitcoin millionaires as the cryptocurrency’s value left the orbit.

Back in 2014, he preferred to accept payment in Bitcoin for his album “Animal Ambition,” and was renowned as the first rapper to do so. According to TMZ, the album collected about 700 Bitcoins, at that time one bitcoin was worth $657 which was dormant for years. In today’s fluctuating but still prominent market, that amount of Bitcoin could get somewhere between $7 million and $8 million

The rapper acknowledged the windfall on Instagram with captions that,

“NOT BAD FOR A KID FROM SOUTH SIDE, I’M SO PROUD OF ME,”

Given Bitcoin’s turbulent performance recently, and possible regulatory barriers in the future, both media and Jackson’s fans are wondering if he’ll sell while Bitcoin is hot or will take risk holding on longer.

Celebrity endorsements

Over the last 12 months, a number of celebrities have been paid to promote and endorse various virtual currencies on social media.

Last September, Hollywood actor Jamie Foxx endorsed the sale of cryptocurrencies on a trading exchange called Cobinhood.

And in October, US rapper Ghostface Killah, from the rap group Wu-Tang Clan, co-founded Cream Capital – a start-up intending to develop a network of blockchain ATM cash machines for turning cryptocurrencies into cash.

According to French financial newspaper Les Échos, French reality star Nabilla appeared on Snapchat on 12 January 2018 to encourage her fans to invest in Bitcoin. She said,

“EVEN IF YOU DO NOT KNOW ANYTHING ABOUT IT, IT MAKES MONEY WITHOUT INVESTING MUCH,”
Source: http://www.unkrypted.com/50-cents-bitcoin-bet-a-million-dollar-boon/