50 Cent - The Man Knows How To Hodl A Bitcoin

in #bitcoin7 years ago (edited)

In another example of "truth is stranger than fiction", TMZ recently broke the story that 50 Cent is not only a large, if not inadvertant, Bitcoin hodl'er - he's also a Bitcoin multi-millionaire.

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Didn't think I'd ever have to cite TMZ on my blog...

Yes, you read that right - the G Unit is (collectively) holding far more Bitcoin than any of my dear readers are likely to be (or, of course, me for that matter)!

As it happens, Fifty was willing to accept Bitcoin as payment for his 2014 album "Animal Ambition". He raked in approximately $400K in Bitcoin at a rough average price of $665 each. That leaves him at about a 7 million valuation, with a peak of almost 14 million in late December.

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I bet he's kicking himself that it wasn't the one with "In Da Club" on it.

The "50 Cent" strategy for hodl'ing Bitcoin s very simple - accept Bitcoin as payment, then don't care enough about it to move it for 4 years, during which time you completely forget about it. (Note: This is actually an effective way to fight FOMO!)

Truth is, this comes at a good time for the Fitty, who was also reported not too long ago to have some "liquidity problems." He would probably have more than "liquidity problems" if he had not thrown some of his bankroll behind Vitamin Water some years back - a windfall the rapper once noted "made him more money than rapping ever did."

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"Vitamin Water" performed better with focus groups than "Diabetes Water".

I get the impression Fifty is a fun and down to earth fellow, and if he's ever out there reading my blog, I'd be happy to dox myself to share an alcoholic beverage of your chosen ounce size. That's one way to get value out of your Bitcoin without having to cash it out!

This does, however, present me with an odd thought - would the market pay more for a "Fitty autographed Bitcoin", ie a coin confirmed to have come out of the sales of his album? That would make that coin, in some small way, a piece of music history. (The fact that we can even entertain this idea is a somewhat concerning indictment of Bitcoin's transaction privacy, but we'll leave that one for another post!)

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Sources: Google, TMZ, Tech Crunch
Copyright: TMZ, BlackSports Online, itunes

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I must say we could not believe in bitcoin and the rain in UK. They both can change their mood any time such as value of crypto fall down and increased up any time.

The nature of the beast!

Falls down and goes up as it is manipulated by big players (whales). One world currency...Skynet..? We can benefit from it now but later on our money wont be useful. Who knows why?

Haha, I need to find a way to get a Bitcoin income!

There's a good chance her strategically "forgot" because of his recent money troubles. I think he still owes lots of money in bankruptcy fees. Then again, it's hard to know.

We believe in bitcoin long term and forever term, so we gotta HODL it STRONG & FIRM enough!

@ lexiconical, thanks for bringing this up at this time.

i was surprised when the news about 50 broke out, i muttered to myself this guy is really "crazy"

He is my type of guy that treads path where angels fear to take. He is a don

Crypto is for those that have patience. Infant stages of what it can do

This dude is smart....thank for your encouragement

no no..

yes nice photo..

He is a very smart man who knows how to market himself and recognize a great investment. Kudos to him. he can teach all of us something.

Completely agree with you, he is smart and successful, and it is a great pity that these years bear fruit ... and his music is no longer the one on which the generation

Yes but he is still a successful businessman. he is also producing a very successful TV show in the Us called Power. Have you seen it?

I'll take some of that diabetes water please!!

Haha, if he keeps holding those coins, he will be even richer!