50 Cent Tells Bankruptcy Court He Lied about Bitcoin Fortune

50 Cent
via TigerDirect / CC-BY-2.0

Despite making headlines for accidentally making millions, 50 Cent is now denying a claim that he made $7 million off of Bitcoin, in documents he released to a bankruptcy court.

According to the documents obtained by The Blast, Fiddy “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.”

It also reveals that the hip-hop mogul lied about his bitcoin success, so he could receive positive publicity.

Previous reports claimed that 50 made a fortune off bitcoin, after allowing fans the option to use it to purchase his 2014 album, Animal Ambition. While some fans did pay using the cryptocurrency, he claims that the bitcoin were eventually converted into dollars by a third party before the money got to him.

โ€œAs 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,” 50 stated in the documents. “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.โ€