Reports last month that rapper 50 Cent had forgotten about $7 million or so in bitcoin he owned have been given the lie by the man himself, who declares in court documents that he “has never owned, and does not now own, a bitcoin account or any bitcoin,” nor did any of his companies.
It isn’t anywhere near the 700 bitcoins reports suggested he’d raked in; considering a bitcoin was worth $657 at the time, the total haul is by my rough estimation probably closer to 6 or 7 of them, a few thousand dollars’ worth.
Why, then, did he not deny the reports at the time, if he knew they were not true? Later in the same document he explains a well-understood rule of show business:
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. 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.
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