Rapper 50 Cent did not make around $8 million in bitcoin, contrary to a January TMZ report and his apparent confirmation of the report by boasting of its headline on social media.
According to court documents obtained by The Blast, 50 Cent said he’d never owned a single bitcoin.
The rapper, whose real name is Curtis Jackson, reportedly admitted in his bankruptcy case that media reports “falsely stated” that he owned millions in cryptocurrency, and that he has “never owned, and does not own, a bitcoin account or any bitcoins, and to the best of his knowledge, none of his companies had a bitcoin account from 2014 to the present.”
TMZ reported in January that Jackson had made around $8 million — according to the valuation of bitcoin at the time — by accepting bitcoin as payment for his 2014 album, “Animal Ambition.”
Jackson later took to social media with screenshots of the article. He posted it on Instagram with a caption that read, “Not bad for a kid from South Side, I’m so proud of me,” and then commented on the post, “Ima keep it real, I forgot I did that shit lol.”
Jackson filed for Chapter 11 bankruptcy protection in July 2015, citing personal debts of over $28 million.
Source: Business Insider