Cryptocurrency from a hip-hop perspective: Nipsey Hussle
Hussle said that over the last few years people have become very successful trading digital currencies.
New York hip-hop legend 50 Cent may have falsely bragged about owning millions worth of bitcoin but west coast recording artist and entrepreneur Nipsey Hussle has been advocating the rising value and expanding importance of cryptocurrencies for years, emphasizing that it’s not as complicated as some people suggest.
In documents obtained by The Blast, representatives for Curtis “50 Cent” Jackson admitted that “recent media reports have falsely stated” that the musician failed to disclose alleged interests in bitcoin and that he actually “never owned” a bitcoin account or any bitcoin cryptocurrency.
However, the same can’t be said about Nipsey Hussle. Born and raised in the Crenshaw district of Los Angeles, Hussle – whose government name is Ermias Asghedom – is a member of the Rollin 60’s Neighborhood Crips.
Despite his controversial gang affiliations, the young hip-hop artist made a name for himself within the independent music scene and recently released his debut studio album entitled Victory Lap, earlier this month.
It’s not a hard concept to understand. If you can understand supply and demand, if you can understand throwing out free music and monetizing via the tour, you can understand cryptocurrency.
Nipsey Hussle via XXL Magazine interview
As his moniker suggests, Nipsey isn’t only a rapper, he’s an eager entrepreneur. Among other ventures, he founded his own record label, All Money In, and sold 1,000 copies of a mixtape for $100 each in just 24 hours.
During an interview last week with New York’s Power 105.1 radio show The Breakfast Club, Hussle revealed that he was “put on” to the advantages of cryptocurrencies by Complex Magazine founder Mark Ecko in 2013.
His latest dealings led him to purchase an ownership stake in Dutch-based company Follow Coin. The Follow Coin app delivers the latest crypto trends and market moves and tracks the most experienced crypto traders.
As part of a recent video which details Hussle’s involvement and ambassadorship with the company, the musician explains that “there’s a huge amount of value in the cryptocurrency space with trading and exchanging different forms of currency… that’s very similar to the stock market”.
“There’s people over the last five, six years that became very successful trading currencies,” he said.
Hussle points out that the cryptocurrency market is ripe for investment because it’s still in the early stages.
“There’s less than 1% penetration, and that’s a fact because I can’t spend bitcoin here, I gotta still spend US dollars or Mastercard credit or established credit,” Hussle said.
However, the rapper envisions that the climate will soon change. In a January interview with XXL Magazine, Hussle recalls witnessing the real-world adoption of now successful payments systems’ PayPal and Apple Pay.
“I remember seeing PayPal and Apple Pay get integrated, and it took a while. But imagine when you can pay for Starbucks with cryptocurrency, when you can checkout on Amazon with your cryptocurrency. What will that do to the value and the confidence of people investing? That’s the opportunity. When retail accepts it as a form of payment, you gonna see the real boom. For these coins to be where they’re at, it lets you know how high the ceiling is,” Hussle said.
Hussle has some strategic advice for young people that enjoy his music and the hip-hop culture. “We shouldn’t be last. Hip-hop shouldn’t be last. We should be early adopters,” he said. “Ya’ll can say Hussle told you first.”
Check out the full video below.
You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.