2018 has been quite a year for Bitcoin and cryptocurrencies in general.
First the value of Bitcoin is about half what it was in December 2017, but its falling value hasn’t stopped people and companies attempting to cash in on the notoriety surrounding cryptocurrencies.
We’ve already had to put up with KodakCoin, PutinCoin and Whoppercoin, which is a cryptocurrency only for buying Burger King Whoppers, but probably more disappointing than all of those stories is the news that 50 Cent lied about being a Bitcoin millionaire.
In court documents reported on by The Blast, Curtis ’50 Cent’ Jackson admitted that he never owned BitCoin, and only went along with an incorrect report from TMZ who said he did 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 particularly true when I feel the press report in question is favourable to my image or brand, even if the report is based on a misunderstanding of the facts or contains outright falsehoods.”
50 was forced to deny owning Bitcoin to refute the idea that he failed to disclose alleged interests in the cryptocurrency while he is involved in a bankruptcy.
Initial reports, somewhat confirmed by Jackson, suggested 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.
According to the documents though, 50 says “Animal Ambition” did accept bitcoin payments, but it was converted to US dollars by a third party before it ever reached him or his companies.
50 now claims that he has never owned any Bitcoin.
And with that news, I’m done with cryptocurrencies.