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50 Cent’s Bitcoin fortune has hit a record amount after he forgot that he had an extra stash of crypto.
The rapper has been investing in cryptocurrency for the last decade after he reportedly made the decision back in 2014 to receive a payment of Bitcoin when selling his album ‘Animal Ambition’.
At the time, the move was thought of as bizarre but it looks like it has quite literally paid off.
In total, 50 Cent earned 700 Bitcoin from the sale which, at the time, worked out to around $455,000.
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And while that’s an amount many wouldn’t be able to forget in a hurry, for a man that’s worth over $140 million, he pushed it to the back of his mind.
However, it looks like it could be the best financial decision he has ever made because the value of the crypto has since skyrocketed over the years and now, that amount has grown massively.
Hopefully 50 Cent was smart enough to realize the potential of Bitcoin and continue to hold though, as the cryptocurrency has continued to climb in value and now sits at over $100,000 per coin - 10 times that of its 2018 value and nearly 1,600 times more expensive compared to when people handed the coin over in 2014.
At the time of writing, the exact value of Bitcoin is $109,078.99, so this across 700 coins would total an overall fortune of $76,355,293 - which would be nearly double his current net worth of $40 million according to AFROTECH.
It’ll also be depressing to look back for anyone who handed over Bitcoin in exchange for 50 Cent’s album, as it would have taken roughly 0.16 Bitcoin to purchase it (based on a single Bitcoin price of $62.8 and an album price of $10), which roughly works out to $17,452.64 today.
That could buy you 1745 copies of Animal Ambition, or work out as enough money to buy the album roughly every two and a half days since its June 3, 2014, release date.
However, not everyone has been lucky when it comes to their Bitcoin investments.
Campbell Simpson, who is the editor of Gizmodo Australia, revealed that he got rid of a computer hard drive in 2010 before realizing that it contained something that would later become very valuable.
Inside the hardware was 1400 Bitcoin, which at the time only cost around $25.
Simpson said: “This is probably one of the stupidest things, in hindsight, that I’ve ever done. And I’ve done a lot of stupid things a lot of times.”
