Snoop Dogg, known for being a hip-hop veteran and for becoming America’s favorite pitchman, has also made waves in the cryptocurrency industry. He’s been known to tweeting about digital assets as well as drop NFTs for sale. In 2013, when he tweeted that he would accept bitcoin for an upcoming album.
That Tweet
On December 1, 2013, Snoop Dogg tweeted that his fans could purchase his next album with bitcoin and it would delivered by drone. The tweet went viral, and crypto companies such as BitPay and Coinbase offered to help make the deal happen. While the idea never materialized, the tweet remains a “what if?” in the bitcoin space.
Although it was a no-go, Bitcoin has gone through ups and downs. Say you had invested $1,000 in bitcoin when Snoop made that tweet.
When Snoop made that post, bitcoin was trading at $1,147.25 per coin. An $1,000 investment would have bought about 0.8716 bitcoin. Fast-forward to today, with bitcoin trading at $66,578.88 as of this writing, that same investment would now be worth $58,030.15. That’s a return of 5703.35 percent.
Hip-Hop And Crypto
While Snoop didn’t capitalize on this bitcoin opportunity, rappers like 50 Cent have. Just months after Snoop’s tweet, in 2014 50 Cent became the first artist to accept bitcoin for an album, “Animal Ambition,” earning 700 BTC in the process, according to Investopedia.
Blacks and Bitcoin
Besides people in the hip-hop community, Black investors are remain drawn to crypto, according to studies. A 2022 Ariel-Schwab Black Investor Survey, found that a quarter of Black Americans owned cryptocurrency in 2021, compared to 15 percent of white investors. As far as stocks, 58 percent of Black Americans reported owning stocks, compared to 63 percent of white Americans.
