Snoop Dogg, widely regarded as one of the greatest rappers of all time, has been known for his cryptocurrency ventures and has not shied away from endorsing the asset class on public forums.
What happened: Right from his foray into the non-fungible token (NFT) space to making social media posts on popular coins like Dogecoin DOGE/USD, the rap legend has attracted attention from cryptocurrency enthusiasts.
The "Doggfather" has also frequently mentioned the world's most valuable cryptocurrency, Bitcoin BTC/USD, in his social posts.
Back in 2013, he posted on Twitter, now X, that he’d accept Bitcoin as payment for his upcoming album.
The post created a firestorm, with popular cryptocurrency payment provider BitPay and trading platform Coinbase seizing on the opportunity and offering to set this up for the rap star.
As it turned out, nothing came out of the post, and it was most likely a PR stunt for his next album, “Bush,” which was released in May 2015.
However, suppose you parked $1000 in Bitcoin when it traded at $1,043.33 a unit on the day the tweet was made, it would have fetched you 0.95846 units of the digital currency.
As of this writing, one Bitcoin was exchanging hands at $64,093.01, making your portfolio worth $61,431.196. This reflected a whopping 6043.11% return.
Why It Matters: While we don’t know if Snoop Dogg regrets not putting his money where his mouth was, the hip-hop musician would have profited handsomely if he had pursued the idea.
Months after the aforementioned tweet, Grammy Award-winning rapper 50 Cent became the first artist to accept Bitcoin as payment for his album “Animal Ambition,” collecting as many as 700 BTCs through the sale.
Price Action: At the time of writing, Bitcoin was exchanging hands at $64,093.01, up 1.91% in the last 24 hours, according to data from Benzinga Pro.
Image Via Shutterstock
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