Reports that Curtis “50 Cent” Jackson earned and forgot about $7 million in bitcoins may not be true, according to the rapper himself.
In a “Declaration of bitcoins” he filed for his bankruptcy case, 50 Cent states he’s never had an account for the online currency, according to The Blast.
“The Debtor 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,” he said in court documents.
When reports first surfaced, the Power actor said in a now-deleted Instagram post, “I’m a keep it real I forgot I did that sh*t. Lol.”
TMZ had reported the rapper-turned-actor accepted Bitcoin for his 2014 album, Animal Kingdom, when one bitcoin was worth $662.
In his filing, 50 Vent states he never personally dealt with the cryptocurrency, and all transactions occurred through a third party.
“All online transactions involving my brand were handled by an independently owned and operated third part, Central Nervous LLC.”
The U.S. Trustee and creditors related to his bankruptcy case began to look into his claims that he earned millions from Bitcoin, that is when he told his advisors to look into the situation and make sure that he never received a bitcoin, according to The Blast.
As to why he didn’t refute claims that he earned $7 million from the digital currency, he states:
“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 said. “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.”
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Teddy is a multimedia journalist who serves as the culture and political writer for EBONY. His work has appeared in NBC's Owned and Operated stations, as well as DNAInfo, which covered local neighborhood news in New York City. He received his Masters in Journalism from the Craig Newmark School of Journalism at CUNY in 2017.