It appears that 50 Cent never actually owned any bitcoin. The rapper admitted that he in fact did not make $8 million in bitcoin by accepting the cryptocurrency as a form of payment for his Animal Ambition album back in 2014. The Blast obtained Friday court documents, which show the rapper admitting he never owned any bitcoin. The reason he 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.”
50 Cent added, “This is particular true when I feel the press report in question is favorable to my image or brand.” When he admitted to owning bitcoin back when TMZ reported, it did in fact make the rapper look like a baller, mostly due to the level of bitcoin’s value, he appeared to be $8 million deep in the cryptocurrency.
Since 50 Cent is going through bankruptcy, he had to prove that he does not own any bitcoin. At this time, it’s unclear if he’s actually lying in the bankruptcy court or lying on social media. His reps did not respond to comment when reached out.