50 Cent just joined the rest of the world obsessively scratching their heads over cryptocurrency, because his alleged Bitcoin fortune just dwindled from an unrealistic amount of millions of dollars, to a very realistic amount of ZERO, after he admitted that he has never once in his life owned a bitcoin.
Fiddy filed documents in his bankruptcy case, obtained by The Blast, admitting that “Recent media reports have falsely stated” that he failed to disclose alleged interests in bitcoin to his Bankruptcy Court, but in reality he has “never owned, and does not own, a bitcoin account or any bitcoins, and to the best of his knowledge, none of his companies had a bitcoin account from 2014 to the present.”
The rapper is referring to reports from last month claiming he had earned millions in bitcoin after allowing his 2014 album, “Animal Ambition,” to accept the cryptocurrency as payment. Reports suggested he banked 700 bitcoins, which was valued to be worth between $7 million and $8 million during the crypto boom a few weeks ago.
According to the documents, 50 says “Animal Ambition” did accept bitcoin payments, but it was converted to U.S. dollars by a third party before it ever reached him or his companies. He stresses that he has never owned a bitcoin.
He says after questions from the U.S. Trustee and creditors related to his bankruptcy, he instructed his advisors to investigate the situation and ensure that he never collected a bitcoin.
As for why everyone, including 50, went along with the fake news story? He says, “As a general matter, 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 adds, “This is particularly true when I feel the press report in question is favorable to my image or brand, even if the report is based on a misunderstanding of the facts or contains outright falsehoods.”
Moral of the story: If you’re going to lie on 50 Cent, he won’t call BS if it’s really nice. Also … someone better check and make sure he was really shot nine times.