The famous rapper 50 Cent says his latest album, Animal Instinct, made millions of sales without actually selling any physical copies of the album itself. How exactly did he do it? He reveals his album’s worth surged thanks to a new digital currency phenomenon called cryptocurrency. Let’s read and find out how digital bitcoin paves a way for 50 Cent’s success.
The New Payment System
In 2014, 50 Cent already saw cryptocurrency’s potential despite many financial experts warning against investing in the digital currency. At that time, the bitcoin’s price was at $660 per coin. For some reason, 50 Cent decided to take a risk and add bitcoin as a payment system for his album despite its price swinging violently every day.
According to sources, 50 Cent accepted more than 700 bitcoins for Animal Instinct’s sales. His album had accumulated to a decent profit of $450,000 back then. At that time, this amount was nothing more than pocket change for a rapper who makes millions.
The Awaiting Moment
However, the bitcoin’s price already exploded to an astounding $11,000 as of 2018! It means 50 Cent’s 700 bitcoin collection is now worth a whopping $7.7 million! Despite its high-value, the financial experts recommend it’d be best for 50 Cent to sell his bitcoins while the prices remain high.
He may have millions of sales from his album right now, but who knows his money might plummet to a hundred dollars in the next days. Despite the experts’ warning, 50 Cent reveals he doesn’t have any plans on withdrawing his money yet, not when everything’s going well for both his career and fortune.
50 Cent’s Financial Struggles
A year later after releasing Animal Instinct, 50 Cent filed for bankruptcy due to several lawsuits and financial mishaps he experienced. Some of the lawsuits he faced included a shady business deal as well as his involvement in the leaking of Teairra Mari’s private, intimate video. At that time, 50 Cent owed an astounding $32 million in debt.
50 Cent recovered from his financial woes after he sued his defense attorneys for botching his trial. 50 Cent settled the lawsuit when his former lawyers paid him an astounding $14.5 million. The money he scored allowed 50 Cent to get back on his feet as he invested a portion of it in Effen Vodka. Aside from the $7.7 million he earned from his album sales, he also has an astounding $60 million from selling his stakes in the company.
Latest Ventures
Aside from his liquor company, 50 Cent also invests in several business ventures like Vitamin Water, where he made a whopping $100 million after selling his shares. He also launched his clothing line named G-Unit where he still maintains his full ownership in the company. 50 Cent also partnered in a business venture with Chris Clarke to produce Street King energy drink.
