So It Turns Out 50 Cent Lied And Never Actually Had Any Bitcoin

The Verge- 50 Cent admitted that he did not, in fact, make $8 million in bitcoin by accepting the cryptocurrency as a form of payment for his album Animal Ambition back in 2014. In a Friday court document obtained by The Blast, the rapper admits that he has never owned bitcoin, and only went along with the initial report from TMZ because “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.” He added, “This is particular true when I feel the press report in question is favorable to my image or brand.” It did make 50 Cent initially look like a baller when, at the height of bitcoin’s value, he appeared to be $8 million deep in cryptocurrency. But, to prove that he is bankrupt, he ultimately had to reveal that he does not own any bitcoin. It’s unclear whether 50 Cent is lying to bankruptcy court or earlier on social media. His reps did not immediately respond to comment.

50 Cent admitted in the bankruptcy documents that recent media reports have “falsely stated” that he made $8 million in bitcoin (none of which he had disclosed to the bankruptcy court). In reality, he says, he has never owned any bitcoin “from 2014 to the present.” The 700 bitcoins he reportedly earned from album sales were converted to US dollars by a third party before 50 Cent or his affiliated companies could receive it.

So basically 50 Cent was under oath and had to say whether or not he actually made millions of dollars off Bitcoin. If you don’t know, it’s a very serious to lie under oath. So 50 Cent didn’t lie and admitted that he never made millions off Bitcoin. Not the greatest look for #MyPresident.

Here’s what I wrote when we still thought Fiddy made millions of dollars off Bitcoin album sales:

And this is why Ja Rule will never win in his war against Fiddy. Never ever. 50 Cent is far smarter than Jeffrey. Jeffrey doesn’t know what Bitcoin is. Jeffrey has never even heard of Bitcoin. Judging from Jeffrey’s tweets this past week, he’s still stuck in 2002. He thinks this is still a fight. He doesn’t seem to realize 50 Cent has hundreds of millions of dollars. Jeffrey is dumb as a box of rocks. Jeffrey still thinks an ass-eating rumor will bring down 50 Cent in 2018. What an idiot. What a fucking idiot.

Whoops! I stand by most of it, though. Ja Rule is an idiot. 50 Cent is much smarter than him. Fiddy was just trying to get in on the Bitcoin craze. I get it. There was a few weeks there where everyone was talking about Bitcoin. Bitcoin this. Bitcoin that. 50 Cent just wanted to be part of the conversation so he told a little lie about making millions of dollars off of it. Everybody just wants to be part of something. No big deal. Well not a big deal until his bankruptcy hearing which was then made public. Bottom line is this. 50 Cent is still rich and Ja Rule is still a moron. Nothing has really changed.