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Cent a Bitcoin millionaire

Cent a Bitcoin millionaire

In an AMA (Ask Me Anything) session on Reddit following the album release, 50 Cent talked about accepting bitcoin as a way to "stay with the times".

Postings on Instagram and Twitter explain that Fiddy accepted bitcoin as payment for his album "Animal Ambition" in 2014, when the cyber-currency was worth about $662 each. The singer made a Bitcoin account to garner the money and he received Bitcoin worth $400,000 that year.

The online currency looks as though it's made NY rapper 50 Cent a few million pounds richer!

50 Cent had previously filed for bankruptcy in 2015 after a court ordered him to pay $5m in damages for posting someone else's sex tape online. 50 Cent whose real name is Curtis Jackson also has made inroads and success as a movie/television producer.

Sources tell TMZ that the rapper happened to make millions by getting into cryptocurrency at the right time - back in 2014. Back then, bitcoin was valued at about $662/bitcoin and fans could reportedly get a copy of the album for just a fraction of a whole bitcoin.

The If I Can't artist took to Instagram Tuesday to boast about the savvy business move, writing in a series of posts, 'A little bit coin anyone? But he kept up the recent self congratulatory theme by trolling everyone on his various social media accounts. If the bitcoins have been held for more than one year, like in Jackson's case, it will be taxed as a capital gain, which could run 20 percent.

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