50 Cent has gone back on his story that he made millions off bitcoin, telling the courts he never owned any bitcoin.
50 declared bankruptcy in 2015 but a story that he’d made between over $7 million USD worth of bitcoin by accepting the cryptocurrency for his last album Animal Ambition raised some serious questions about his declaration.
As The Blast report, he’s now responded to the courts in documents connected to his bankruptcy filing saying, “[I have] never owned and [do] not now own, a bitcoin account or any bitcoins.”
When the story about how much bitcoin he had broke, he bragged about it, posting TMZ‘s story on social media and also admitting, “I forgot I did that shit.” He’s now drastically changed his tune.
The new court documents acknowledge that the rapper accepted bitcoin for his album but state they were converted to US dollars by a third-party company before it reached him or his companies.
He also addressed the reason why he never denied the story when it broke basically admitting that you should never let anything get in the way of a good story.
“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 particular 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.”
Last time the courts were confused by his bankruptcy he posted a picture on Instagram spelling the word ‘Broke’ with stacks of cash.
