Atlanta rapper, Money Man has taken his $1 million advance payment entirely in Bitcoin (BTC) from Californian record label Empire Distribution. Today, the artist launched a new album and the “title track” is called “Blockchain”.
Money Man, payment in Bitcoin for the rapper
Always very active in the crypto sector, to the point of having a Telegram group of 40,000 people discussing the subject, Money Man is the first artist to receive a $1 million Bitcoin advance from the Empire Distribution label.
The Atlanta rapper’s new track “Blockchain” was released today. Here’s what Money Man had to say about the event two days ago, sharing with Ghazi Shami, the founder of Empire Distribution.
“Being financially lit is the new wave Ghazi blockchain streaming everywhere Friday”.
Not only that, also on the same day, Money Man shared a video on Twitter testifying Empire’s down payment of 14.72 BTC through Cash App.
— Big Money (@MoneyMan) November 9, 2021
Money Man and salaries in Bitcoin: now also in the music industry
Bitcoin salaries have been much talked about in the US lately. Players in the National Football League (NFL), such as Aaron Rodgers, have said they will convert part of their salary into Bitcoin, and now Money Man is opening the door to the music industry.
Rodgers’ announcement ten days ago was very similar to Money Man’s current one. In both cases, it involved the sum of $1 million in BTC and the use of CashApp.
Another story, however, is being written by some American politicians. First of all, Francis Suarez, the mayor of Miami who a few days ago said he wanted to be the first US politician to receive his salary in Bitcoin.
This statement was made publicly on Twitter, in response to Anthony Pompliano, the crypto influencer who seems to have launched the challenge.
Soon after, the newly elected Mayor of New York, Eric Adams, also said he was ready to receive his salary in Bitcoin. With Adams, New York could become a major financial centre for BTC and cryptocurrencies.
Bitcoin: ATH and upgrade
This week, Bitcoin has made new all-time highs, touching but not exceeding $69,000. Since yesterday, BTC seems to be retracing, falling to $63,000 at the time of writing.
At the same time, during the night between 13 and 14 November 2021, the soft-fork will take place, which will definitively activate the Taproot update on the Bitcoin protocol. This will take place at block 709.632, with Schnorr signatures also to be implemented.
This is the only Bitcoin protocol update in the last 4 years, as the last one took place in August 2017, with the introduction of SegWit.