Rapper Curtis Jackson III, also known as 50 Cent, is correcting himself about the bitcoin fortune he implied he forgot he had, and which would have been worth over $7 million. He's now saying he never had it at all.
In January, Jackson shared to his social media accounts a TMZ report claiming the rapper had raked in around 700 bitcoins during a 2014 album sale. CNBC Make It reported that a stake of that size would be worth about $7.8 million. Now, however, Jackson is swearing there is no fortune.
On Friday, under penalty of perjury, the rapper filed documents relating to his 2015 Chapter 11 bankruptcy case to clarify that he doesn't own, "and have not owned, either a bitcoin account or any bitcoins."
The filing — which specifically calls out the report from TMZ that claimed Jackson had pulled in nearly 700 bitcoins for the sale of his 2014 album "Animal Ambition" — states that any bitcoins received for the album were "contemporaneously" converted into dollars. At the time, bitcoin was worth about $660, meaning the stake of 700 bitcoins would have totaled about $460,000.
It further clarifies that the third-party in charge of processing purchases, Central Nervous, used BitPay, a company that specializes in processing payments with bitcoin for purchases large and small, including Lamborghinis, to convert bitcoin into dollars before any profits reached Jackson's company G-Unit Records. Had G-Unit Records opted to hold onto the bitcoin payments instead of having them converted into dollars, they would be worth over $7 million at bitcoin's price today.
A request for comment by CNBC Make It was not immediately returned by Jackson's publicist.