50 Cent - The Man Knows How To Hodl A Bitcoin

In another example of "truth is stranger than fiction", TMZ recently broke the story that 50 Cent is not only a large, if not inadvertant, Bitcoin hodl'er - he's also a Bitcoin multi-millionaire.

Didn't think I'd ever have to cite TMZ on my blog...

Yes, you read that right - the G Unit is (collectively) holding far more Bitcoin than any of my dear readers are likely to be (or, of course, me for that matter)!

As it happens, Fifty was willing to accept Bitcoin as payment for his 2014 album "Animal Ambition". He raked in approximately $400K in Bitcoin at a rough average price of $665 each. That leaves him at about a 7 million valuation, with a peak of almost 14 million in late December.

I bet he's kicking himself that it wasn't the one with "In Da Club" on it.

The "50 Cent" strategy for hodl'ing Bitcoin s very simple - accept Bitcoin as payment, then don't care enough about it to move it for 4 years, during which time you completely forget about it. (Note: This is actually an effective way to fight FOMO!)

Truth is, this comes at a good time for the Fitty, who was also reported not too long ago to have some "liquidity problems." He would probably have more than "liquidity problems" if he had not thrown some of his bankroll behind Vitamin Water some years back - a windfall the rapper once noted "made him more money than rapping ever did."

"Vitamin Water" performed better with focus groups than "Diabetes Water".

I get the impression Fifty is a fun and down to earth fellow, and if he's ever out there reading my blog, I'd be happy to dox myself to share an alcoholic beverage of your chosen ounce size. That's one way to get value out of your Bitcoin without having to cash it out!

This does, however, present me with an odd thought - would the market pay more for a "Fitty autographed Bitcoin", ie a coin confirmed to have come out of the sales of his album? That would make that coin, in some small way, a piece of music history. (The fact that we can even entertain this idea is a somewhat concerning indictment of Bitcoin's transaction privacy, but we'll leave that one for another post!)

Try SteemFollower today and get rewarded for every vote! See my explanation of SteemFollower here.

Try SteemEngine and get rewarded for every follow or vote! (it works much like legacy SteemFollower did)

Join us at the Minnow Support Project! (click me)
We also have a Radio Station! (click me)
...and a 5000+ active user Discord Chat Server! (click me)

Almost 80% of Steemians do not vote for witnesses, who secure the Steem blockchain! If you wish to make me your witness voting proxy, I will attempt to vote in Steem's best interest based on the information in my witness reports. You may set me as your proxy by clicking here and scrolling to the bottom of the Witness Voting page. Proxies are instantly revokable at any time, and witness voting does not use your voting power.

Join the Steemit Poker League! (@spl)World's Largest Cyptocurrency Freeroll Poker Site, open only to Steemians!

Sources: Google, TMZ, Tech Crunch
Copyright: TMZ, BlackSports Online, itunes