01-24-2018: Rapper 50 Cent Up $8.5 Million From Album Sales in Bitcoin

Rapper 50 cent reportedly forgot about his Bitcoin stash now worth $8.5 million. The rapper allegedly made the comments in response to an investigation by TMZ, which suggested copies of the album had netted him around 700 BTC, at the time worth $400,000. In fresh comments on Twitter, 50 Cent confirmed he was “getting to the bag” amid advice from crypto holders to ‘hodl’ his earnings. Animal Ambition was a pioneer in Bitcoin acceptance in the music industry when 50 Cent made the somewhat unexpected decision to partner with BitPay via his Shopify store. At the time, prices were around $660, putting his untouched earnings at between $7 million and $8.5 million (bitcoinist).

Citing concerns over slow confirmation times and rising fees, global payment provider Stripe announced it will be winding down support for bitcoin payments over the next three months. BTC payments will no longer be accepted by Stripe after April.  With a rapidly growing global market cap, bitcoin has been making longtime fans more than satisfied with the state of the number one cryptocurrency as 2018 gets underway. Despite the success, though, merchants who facilitate bitcoin payments have begun to react to the growing fees and uncertain payment settlement times that have been plaguing the coin’s network (10ztalk).

In a recent interview with the Russian news outlet Gazeta, the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov stated that the current draft of Russian cryptocurrency bill requires government officials to declare their cryptocurrency investments. The draft is currently under review by the Russian Ministry of Finance and the Central Bank with the final version of the bill slated to be released no later than July 1, 2018, according to Forklog. As of now, government officials are not required to declare their cryptocurrency assets because of a lack of proper definition and regulation of cryptocurrencies, according to a recent announcement by the Russian Ministry of Labor (cointelegraph).

And lastly, the North American Bitcoin Conference that took place in Miami last week gathered around 4,000 people including entrepreneurs, investors, lawyers and leaders who came together to speak to the crypto community. The conference has come a long way from the 100 attendee event in 2012. Its founder Dr. Moe Levin hosted this year’s event that informed crypto community of current developments, investment opportunities, and trends and provided a great atmosphere to network (cointelegraph).

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