50 Bitcoin

February 1, 2018

Curtis Jackson AKA 50 Cent was astounded when he realized he had accumulated over 8 million dollars in the cryptocurrency Bitcoin. Bitcoin, the online currency, has a current worth of over 11 thousand dollars USD per coin. 50 Cent, an American rapper, made a remarkably lucky business deal to accept Bitcoins in lue of cash for his newest album at the time, Animal Ambition in which a fan base paid him 700 Bitcoins at the time.

(Image from Kursors.lv

 

Jackson has hardly kept his excitement to himself, going across all forms of social media to express his feelings on his newfound wealth. He has posted on his twitter account a picture of himself surrounded by Bitcoins with a caption that read, "A little bit coin anyone? LOL. I know I make you sick but excuse me I'm getting to the bag." In an Instagram post he wrote, "Not bad for a kid from South Side, I'm so proud of me".

 

On top of all that Jackson has stated, until recently he had no recollection that he had received any bitcoin. When Jackson had received the cryptocurrency as payment it was valued at around $680 USD. Jackson was quoted saying, “I’m a keep it real I forgot I did that” further proving his ignorance on the matter. Ironically Jackson had to declare bankruptcy back in 2016 because his liabilities outweighed his assets by approximately eight million, around the value of his current Bitcoin stash.

 

Even though the value of the cryptocurrency, Bitcoin, is currently valued at around $11,000 USD, the currency is unregulated and thus only holds value equal to the public’s demand. Similar to how 50 Cent was able to wait and have the value of the coin more than septuple in value, it could potentially plummet into the nothingness from which it came.

 

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