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Last month, many reports that spoke about how the rapper had forgotten that he had in his possession about 7 million dollars in bitcoins, but that news was denied by the artist himself.

The truth came to light during a presentation of Curtis James Jackson III (the real name of 50 Cent) before the court, the reason for his attendance is to declare bankruptcy. Among the documents presented was a "Declaration on Bitcoins" and it was there where 50 Cent admitted that "he has never had and at the moment he does not have possession of a Bitcoin account"

In his formal statement it is explained that he as such never had a direct participation with transactions in Bitcoins. This is detailed in the arguments presented:

"All the online transactions that involved my brand were an independent company called, Central Nervous LLC. The transactions that were made with bitcoin were processed and converted to US dollars progressively, based on the exchange rate existing at that time ... "

Along with his statement, the singer presented several screenshots showing his BitPay account. There could be seen a fairly average amount of exchange transactions ranging from USD $ 5.50 to USD $ 8.90. It is not remotely close to the 700 bitcoins that had originally been speculated, taking into account that at that time the currency was worth USD $ 657.

Now, the most important thing of this rests in two aspects: why the news was not denied at the moment when the information began to flood the web? that's something that 50 Cent himself explains in his statements:

"As a general matter, whenever a press story is not irreparably damaging to my image or brand, I generally do not feel the need to publicly deny the information. This is particularly true when I consider that 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 if it contains a total falsehood.

When I first heard about the press reports on this subject, I wrote on social media that I said "I forgot I did it" because in fact I had forgotten that I was one of the first recording artists to accept bitcoins as a form of payment online. I did not publicly deny the reports that I had bitcoins because press coverage was favorable and I suggested that I had won millions of dollars as a result of my good commercial decision to accept bitcoin payments. "