Nearly a month ago media outlets massively reported that famous rapper 50 Cent had become a bitcoin millionaire thanks for the decision to accept BTC as payment for his last music album.
Now, as the court documents, related to 50 Cent’s bankruptcy case, have recently been released for the eyes of the public, it becomes clear that the rap performer has owned not even a fraction of BTC unit. Here’s how it happened.
50 Cent’s Revelation
Despite all the cheering reports that the notorious rapper, whose real name is Curtis James Jackson III, gained millions in bitcoin, 50 Cent dispelled rumors once and for all.
On February 26, Blast informed that previously show-business media outlet TMZ published a false report, according to which 50 Cent allegedly gained considerable sums in bitcoin. By the way, the performer started accepting BTC in 2014 for his last album called “Animal Ambition.”
According to TMZ’s information, 50 Cent earned 700 pieces of BTC for his work, which as of writing were worth $7 million. However, as the disclaimer shows, Jackson never received bitcoin as all the payments were converted into public currency right after the transaction by third parties.
In 2015, a year after the album release, Jackson filed for chapter 11 insolvency at the Bankruptcy Court for the District of Connecticut. The case was closed two years ago, but the documents, unveiled last week, prove that the performer has never even possessed BTC.
In the filings, it was said that the party which assisted the rapper in converting cyber coins straight into fiat, was Central Nervous, LLC.
“Fifty” Doesn’t Regret Rumors
At the same time, the rap celebrity commented on the issue, saying all the hearings concerning his crypto fortunes worth millions were auspicious for his image.
Jackson added that whatever media report about his so-called “crypto assets,” he is not going to deny the coverage.