fifty Cent admitted that he did not, in truth, make $eight million in bitcoin by accepting the cryptocurrency as a sort of payment for his album Animal Ambition again in 2014. In a Friday court docket document acquired by The Blast, the rapper admits that he has hardly ever owned bitcoin, and only went together with the original report from TMZ due to the fact “so extended as a press tale is not irreparably detrimental to my picture or brand name, I normally do not experience the will need to publicly deny the reporting.”
He added, “This is distinct genuine when I experience the press report in issue is favorable to my picture or brand name.” It did make fifty Cent to begin with search like a baller when, at the top of bitcoin’s worth, he appeared to be $eight million deep in cryptocurrency. But, to establish that he is bankrupt, he ultimately experienced to reveal that he does not personal any bitcoin. It is unclear irrespective of whether fifty Cent is lying to individual bankruptcy court docket or previously on social media. His reps did not quickly react to remark.
fifty Cent admitted in the individual bankruptcy paperwork that current media experiences have “falsely stated” that he produced $eight million in bitcoin (none of which he experienced disclosed to the individual bankruptcy court docket). In actuality, he says, he has hardly ever owned any bitcoin “from 2014 to the existing.” The seven-hundred bitcoins he reportedly attained from album gross sales ended up converted to US bucks by a 3rd occasion before fifty Cent or his affiliated organizations could acquire it.
Beforehand, fifty Cent bragged about his unexpected bitcoin “wealth” on Instagram and Twitter posts, posting “Not lousy for a child from South Aspect, I’m so happy of me” and “A minimal bitcoin anybody? LOL. l know l make you unwell but excuse me…I’m having to the bag.” Probably his Instagram reply to his enthusiasts was a minimal additional trustworthy, or at least hinting at the real truth: “Ima continue to keep it real, I forgot I did that shit lol.”