Recently, we were reporting on 50 Cent’s newly found Bitcoin stash, as the rapper revealed that he forgot about giving fans the possibility to buy his album using cryptocurrency. Everything was happening a few years ago when the world’s most popular digital coin was worth just a few dollars.
In the meantime, the price kept growing and Curtis Jackson, by his real name, was put in the situation in which he was finding that he has $7 million in Bitcoin. However, it looks like this wasn’t true at all.
Everything is now official
50 Cent declared in court documents that he “has never owned, and does not now own, a Bitcoin account or any Bitcoin,” nor did any of the companies he possesses, according to TechCrunch.
The source mentions that a “Declaration on Bitcoins” was filed last week, as an answer to the recent news about his newfound source of income. “I’m a keep it real I forgot I did that shit. Lol,” he said on social media at that time.
“All online transactions involving my brand were handled by an independently owned and operated third part, Central Nervous LLC.. the limited bitcoin transactions that occurred online were processed and converted to U.S. Dollars contemporaneously, based upon the then-existing exchange rate,” says an excerpt from the declaration.
50 Cent even provided screenshots of his BitPay account, revealing just a few transactions, most of them being for $5.50 or $8.90. This confirms that the album which was available for purchase using Bitcoin, Animal Ambition, didn’t led to many cryptocurrency transactions.
The rapper supposedly had a serious amount of coins
Previously, it was reported that he managed to gather almost 700 Bitcoins. At that time, one coin was worth $657, but considering today’s value, he would’ve been a millionaire.
Obviously, we’re all wondering why he didn’t deny the reports at that time, especially if he knew they weren’t true. On the other side, let’s not forget that he got a lot of free publicity when the news first emerged, so this could be the one and only reason he confirmed the story initially.