Rapper 50 Cent forgot he had 700 Bitcoins as part of an album deal

William Gayde

Posts: 382   +5
Staff member

Curtis Jackson, who goes by the stage name 50 Cent, is the latest in a long list of people who are now rich off of Bitcoin they forgot they owned. He released the album Animal Ambition back in 2014 and was one of the first music artists to accept Bitcoin as a form of payment. First reported by TMZ, this turned out to be one of the best financial decisions he has ever made.

The album came out well before Bitcoin gained the popularity it has today so there weren't too many people with Bitcoin willing to spend it on his album. He took the chance and it ended up paying off dozens of times over.

Album sales were around 700 BTC which at the time was around $450,000. At the current market rate of about $12,000, this is now worth nearly $8.5 million. In a social media comment he said, "Not bad for a kid from South Side, I’m so proud of me." He also posted the following tweet:

There are horror stories of early Bitcoin investors accidentally throwing away hard drives that are now worth millions or forgetting their login credentials. 50 Cent was lucky to remember his password because due to the nature of cryptocurrencies, it would have been lost forever otherwise.

Permalink to story.

 

Polycount

Posts: 3,017   +590
Staff member
Well, if he doesn't want 'em, I'll take 'em. He can forget a cool $5 million worth of those directly into my wallet.
 

Skyyy

Posts: 28   +8
It's just millions on paper until he sells it. I wonder if he and everyone else we hear about is holding or selling.
 

Boilerhog146

Posts: 642   +223
Just another Hooligan in rich mans clothes. (Title Of his next Album!)
I still hold hope for 50 cent ,one day I would like to read that he save some kid in the hood from getting hit with a stray bullet.. ;)
 
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Boilerhog146

Posts: 642   +223
He "forgot" about them as he pays off a bankruptcy deal of $23 million. I would have forgotten about them too until it was all over. :)

now that the Lawyers know he had these coins .during the bankruptcy, and failed to disclose.forgetting he had them matters not.. can they not go back. add them to the claim.he doesn't look BANKRUPT..
 

Mao666

Posts: 10   +7
He "forgot" about them as he pays off a bankruptcy deal of $23 million. I would have forgotten about them too until it was all over. :)

now that the Lawyers know he had these coins .during the bankruptcy, and failed to disclose.forgetting he had them matters not.. can they not go back. add them to the claim.he doesn't look BANKRUPT..

The story doesn't end here it appears...stay tuned
 

Camikazi

Posts: 982   +339
It's just millions on paper until he sells it. I wonder if he and everyone else we hear about is holding or selling.
If I would have forgotten about 700 BTC that I bought way back when (I heard about them when they were about 10 cents each, I hate myself) I would sell right now. I'm not rich so a nice $8.5 million would help IMMENSELY!
 

Boilerhog146

Posts: 642   +223
If I would have forgotten about 700 BTC that I bought way back when (I heard about them when they were about 10 cents each, I hate myself) I would sell right now. I'm not rich so a nice $8.5 million would help IMMENSELY!
in 2012/13 ? a guy I knew ,I see leaving a favorite shop with an msi Big Bang and seven msi 7950. setting up his first mining rig. I kick myself many times since then, I was playing video games with my rig,lol :(,by the time I consider getting in .it was too late.I guess I preferred working for a living.
 
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Camikazi

Posts: 982   +339
in 2012/13 ? a guy I knew ,I see leaving a favorite shop with an msi Big Bang and seven msi 7950. setting up his first mining rig. I kick myself many times since then, I was playing video games with my rig,lol :(,by the time I consider getting in .it was too late.I guess I preferred working for a living.
I was young back then, not hugely young because I had a job but I did not make enough money to buy a mining rig but I made enough and knew enough to be able to buy BTCs directly and I kick myself now for not doing it because I was worried about losing $10. That $10 back then would be $1.2 million now, that hurts my feels man.
 

GeforcerFX

Posts: 1,031   +494
If I would have forgotten about 700 BTC that I bought way back when (I heard about them when they were about 10 cents each, I hate myself) I would sell right now. I'm not rich so a nice $8.5 million would help IMMENSELY!
in 2012/13 ? a guy I knew ,I see leaving a favorite shop with an msi Big Bang and seven msi 7950. setting up his first mining rig. I kick myself many times since then, I was playing video games with my rig,lol :(,by the time I consider getting in .it was too late.I guess I preferred working for a living.
Yeah when I think about all the hardware I had laying around when I first heard about bitcoin, and doing nothing with it, absolutely nothing, makes me cringe. I could be enjoying my Lamborghini on a sunset cruise on my way back to my house in Malibu :D. Prob not though I prob would have sold them when they went over $5,000, my grandpa always said if you trade stocks you have to have a short memory sometimes.
 

Boilerhog146

Posts: 642   +223
If I would have forgotten about 700 BTC that I bought way back when (I heard about them when they were about 10 cents each, I hate myself) I would sell right now. I'm not rich so a nice $8.5 million would help IMMENSELY!
in 2012/13 ? a guy I knew ,I see leaving a favorite shop with an msi Big Bang and seven msi 7950. setting up his first mining rig. I kick myself many times since then, I was playing video games with my rig,lol :(,by the time I consider getting in .it was too late.I guess I preferred working for a living.
Yeah when I think about all the hardware I had laying around when I first heard about bitcoin, and doing nothing with it, absolutely nothing, makes me cringe. I could be enjoying my Lamborghini on a sunset cruise on my way back to my house in Malibu :D. Prob not though I prob would have sold them when they went over $5,000, my grandpa always said if you trade stocks you have to have a short memory sometimes.

yeah,same .still lots of old kit around, it helps to be not to materialistic.I get attached to stuff easily.I have a decent sports card collection, some from the 70's and earlier, I destroyed a shitload though. as a kid.peddle bike spokes ,

As an investor ,you have to be able to just" let go.."
 

poohbear

Posts: 698   +627
Forget bitcoin! As computer geeks we should all be kicking ourselves for not buying more Nvidia stock! It was $20 a share just 3 years ago, not even 2012 or 2013. That was for a stable tech stock. Now its $245 a share!!! Lol this is one of the most prominent & stable tech companies all geeks know, and ya'll r complaining on missing out on insanely speculative "bitcoins"???
 

MilwaukeeMike

Posts: 3,215   +1,469
Forget bitcoin! As computer geeks we should all be kicking ourselves for not buying more Nvidia stock! It was $20 a share just 3 years ago, not even 2012 or 2013. That was for a stable tech stock. Now its $245 a share!!! Lol this is one of the most prominent & stable tech companies all geeks know, and ya'll r complaining on missing out on insanely speculative "bitcoins"???

And Telsa is worth 200% more in the same period... so is Netflix and Amazon and Facebook... in fact, the entire stock market is up like %20 just from a couple years ago. So you don't even have to pick the right company - you could just invest in the whole thing! Do what everyone else does and buy an Index 500 fund (a mix of the 500 biggest companies) and you'll be set!