In another example of "truth is stranger than fiction", TMZ recently broke the story that 50 Cent is not only a large, if not inadvertant, Bitcoin hodl'er - he's also a Bitcoin multi-millionaire.
Yes, you read that right - the G Unit is (collectively) holding far more Bitcoin than any of my dear readers are likely to be (or, of course, me for that matter)!
As it happens, Fifty was willing to accept Bitcoin as payment for his 2014 album "Animal Ambition". He raked in approximately $400K in Bitcoin at a rough average price of $665 each. That leaves him at about a 7 million valuation, with a peak of almost 14 million in late December.
The "50 Cent" strategy for hodl'ing Bitcoin s very simple - accept Bitcoin as payment, then don't care enough about it to move it for 4 years, during which time you completely forget about it. (Note: This is actually an effective way to fight FOMO!)
Truth is, this comes at a good time for the Fitty, who was also reported not too long ago to have some "liquidity problems." He would probably have more than "liquidity problems" if he had not thrown some of his bankroll behind Vitamin Water some years back - a windfall the rapper once noted "made him more money than rapping ever did."
I get the impression Fifty is a fun and down to earth fellow, and if he's ever out there reading my blog, I'd be happy to dox myself to share an alcoholic beverage of your chosen ounce size. That's one way to get value out of your Bitcoin without having to cash it out!
This does, however, present me with an odd thought - would the market pay more for a "Fitty autographed Bitcoin", ie a coin confirmed to have come out of the sales of his album? That would make that coin, in some small way, a piece of music history. (The fact that we can even entertain this idea is a somewhat concerning indictment of Bitcoin's transaction privacy, but we'll leave that one for another post!)
We also have a Radio Station! (click me)
...and a 5000+ active user Discord Chat Server! (click me)
Sources: Google, TMZ, Tech Crunch
Copyright: TMZ, BlackSports Online, itunes
I must say we could not believe in bitcoin and the rain in UK. They both can change their mood any time such as value of crypto fall down and increased up any time.
The nature of the beast!
https://steemit.com/game/@ajaydodeja/india-s-historic-win-over-south-africa-in-5th-odi
Falls down and goes up as it is manipulated by big players (whales). One world currency...Skynet..? We can benefit from it now but later on our money wont be useful. Who knows why?
Haha, I need to find a way to get a Bitcoin income!
There's a good chance her strategically "forgot" because of his recent money troubles. I think he still owes lots of money in bankruptcy fees. Then again, it's hard to know.
Bitcoin will rise more and more!
We believe in bitcoin long term and forever term, so we gotta HODL it STRONG & FIRM enough!
@ lexiconical, thanks for bringing this up at this time.
i was surprised when the news about 50 broke out, i muttered to myself this guy is really "crazy"
He is my type of guy that treads path where angels fear to take. He is a don
Crypto is for those that have patience. Infant stages of what it can do
Yeah!
This dude is smart....thank for your encouragement
no no..
yes nice photo..
He is a very smart man who knows how to market himself and recognize a great investment. Kudos to him. he can teach all of us something.
Completely agree with you, he is smart and successful, and it is a great pity that these years bear fruit ... and his music is no longer the one on which the generation
Yes but he is still a successful businessman. he is also producing a very successful TV show in the Us called Power. Have you seen it?
I'll take some of that diabetes water please!!
Very nic post.
This post has received gratitude of 19.79 % from @appreciator thanks to: @lexiconical.
Haha, if he keeps holding those coins, he will be even richer!
"Vitamin Water" performed better with focus groups than "Diabetes Water".
Awwwww mann this is why I love your humor and am so glad you took the time to write this xD
Seriously funny bro; you actually had me LOLing there
Good one ;)
great news thanks the information
Thank you lexiconical for making a transfer to me for an upvote of 10.43% on this post!
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I'm glad that he did that. He is one of my favorite rappers and this proves that he is willing to accept modern payments
he... knows what the future holds ,the power of blockchain especially now that bitcoin that bitcoin is being used as the reserve currency of the blockchain.
Heyy luky mannnnn :))
50-cent, you are too much, with double faces and will now be known as 2face. I.e. the tiger and human. I upvote and follow you, keep it up.
That is a very effective hodling strategy like you said. Just buy something and wait a year or two and do NOT sell. It's as simple as that
i think bitcoin is one kind of real man
Everybody should do the same, just HODL and relax :) Forget about your coins but one day a month you always remember and buy some more =D
You gonna be Lambo billionaire within a couple of years !
JUST HODL!
// @sanktnico
The 50th Law ;)
bitcoin for riches. 50 cent sure knows how to use it
@lexiconical. Fifty could afford to make huge investment into Bitcoin because he got the money.He is also popular and a public figure.He can sell his stuff and accept Bitcoin because he got the financial muscle to do that.For people like us looking for ways to get a pie out of the Bitcoin market,he would be happy if we can make at least $1000 in Bitcoin.
Good post
They will pay double maybe triple for the autographed 50 Bitcoin. Which could fork to a 50 coin,lol... you know how this industry is. Seems that this guy has vision with the moves that he makes in the entertainment industry and investing. Thanks, nice post.. I'm about to do the same. I'm a HipHop artist my self, setting up website soon. Maybe do a repeat and remember my crypto in 2022. lol....
So what you're really saying is, his name is an inaccurate reflection of his crypto wealth.
wow
You got a 7.50% upvote from @upmyvote courtesy of @lexiconical!
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Would be an interesting way to hype an alt coin. Just get 50 to "sign" all the coins and then put them up for sale. Next partner with some other has been singer and get them to "sign" even more coins and maybe hold some 50 signed coins so both can sign a select few coins making them even more valuable.
https://steemit.com/game/@ajaydodeja/india-s-historic-win-over-south-africa-in-5th-odi
Heard that news and he sure is a lucky man ;)
forgot about the news of money then suddenly a millionaire !
Not that I doubt that 50C had this going for him, but is there any reason someone couldn't use the excuse of coming across some latent bitcoin as a money laundering attempt?
Katsjing!
Good for him and good press for BTC.
La cripto tiene caídas y subidas, pero hay que tener paciencia, lo bueno se espera. Animoo!
What a fun post!
That's great
Coins mentioned in post: