What are two things that were once household names that you don’t hear much about these days? Bitcoin and 50 Cent. However, both may still be more relevant than their recent relative obscurity would lead you to believe.
The cryptocurrency is no longer grabbing headlines, but it was certainly a hot item that had many people — including celebrities — investing.
Meanwhile, 50 Cent is no longer filling the airwaves, but he is still among the most famous hip hop artists on the music scene.
The other connection between these two is a rumor that 50 Cent made a wise investment in bitcoin that paid off in a major way. Is there any truth to the claim? Let’s take a closer look.
50 Cent crashed into financial problems
Once at the top of the rap game, 50 Cent fell into financial hard times due to some poor decision making. When he was found legally responsible for leaking a woman’s sex tape, he was facing a $5 million court fine. Around the same time, he got caught up in legal battles over unpaid child support. At one point, he was $32.5 million in debt.
As he faced these repercussions, he ended up filing for personal bankruptcy, a fact that was made all the more unbelievable by his once staggering $150 million net worth.
50 Cent is far from the only celebrity who has gone broke, but there were several lessons to be learned by his particular path to bankruptcy. Many saw the financial ruin as a natural consequence of the rapper straying too far from his talents by taking on acting as well as music and by displaying immense immaturity when he released the sex tape as a jab at rap rival Rick Ross.
Rumors swirled that 50 Cent had invested in bitcoin
In the midst of his financial downfall, rumors swirled that 50 Cent had made the unusual choice to get paid for his 2014 album in bitcoins. This wouldn’t be completely unheard of.
After all, Beyoncé once got paid in Uber…