Turns out 50 Cent doesn’t even have 50 cents worth of bitcoin to his name (bad pun intended).
The “Get Rich or Die Tryin'” rapper grabbed headlines last month when TMZ reported he’d earned a cool 700 bitcoin — worth more than $7 million today — for his 2014 album “Animal Ambition.” But in bankruptcy court documents grabbed by The Blast, “Fiddy,” AKA Curtis Jackson, admitted he doesn’t “personally own, and have not owned, either a bitcoin account or any bitcoins.”
Here’s what happened: his site did accept bitcoin as a form of payment for the album, but immediately converted it to U.S. dollars.
The fact that he doesn’t have “just a little bit” of bitcoin didn’t stop 50 from taking a victory lap on Instagram, however. “Not bad for a kid from the South Side,” wrote the rapper in an Insta caption last month, pointing to the report on his cryptocurrency riches. “I’m so proud of me. LOL.”
LOL indeed. Talk about a wanksta move.
The “P.I.M.P.” singer said he L.I.E.D. about his bitcoin fortune because it helped make him look good.
“So long as a press story is not irreparably damaging to my image or brand, I usually do not feel the need to publicly deny the reporting,” said 50 in the court docs. “This is particularly true when I feel the press report in question is favorable to my image or brand.”
50 filed for Chapter 11 in 2015, citing $28 million in debt. Sorry to kick you while you’re down, 50.