Grammy Award-winning rapper 50 Cent grew to become the primary artist to simply accept Bitcoin BTC/USD as cost 10 years in the past for his album “Animal Ambition” — and boy, oh boy, was he a visionary. The astronomical rise of Bitcoin has made him a multi-millionaire as we speak.
What Occurred: The favored artist, whose actual identify is Curtis Jackson, collected as many as 700 Bitcoins for his fifth album which was launched on this present day in 2014.
50 Cent made about $460,000 in gross sales, going by Bitcoin’s per unit value of $662 at the moment.
Reduce to 2024, and Bitcoin is a distinct beast now. As of this writing, one Bitcoin was equal to $68,973, in keeping with knowledge from Benzinga Professional.
Going by this, the stash collected by the movie star music artist is value a whopping $48 million now.
Curiously, 50 Cent, who initially confirmed the deal, denied possessing any Bitcoin in a chapter submitting later.
Why It Issues: The incident reiterates the long-endorsed narrative of Bitcoin being a retailer of worth belongings. Over the past 10 years, the digital asset has grown an astonishing 104 instances in worth, a feat that does not have a parallel in trendy finance.
Whereas the world’s largest cryptocurrency went by way of bear market cycles, the newest of which occurred within the aftermath of the FTX collapse, it has recovered strongly each time.
50 Cent is not the one pop artist to be related to Bitcoin. Rap legend Snoop Dogg publicly talked about his Bitcoin holdings and has been a vocal advocate of the digital foreign money revolution.
This 12 months, Bitcoin is up 61% year-to-date and has bettered its earlier highs set in 2021, pushed by hovering institutional curiosity for its spot ETFs. It was final buying and selling up 1.6% at $68,860, in keeping with knowledge from Benzinga Professional.
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