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Lily Allen Turned Down Bitcoins, Could Have Been Wealthiest Young Musician In Britain

Submitted by on January 8, 2014 – 9:14 am10 Comments
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Lily Allen revealed on Twitter this week that she could have been a multi-millionaire if she had accepted Bitcoin for a gig five years ago. If true, the sum could have made her one of the wealthiest entertainers in England. But her miscalculation can be excused, as few could predict the online currency’s explosive activity in recent years.

Allen tweeted on Sunday, “About 5 years ago someone asked me to stream a gig live on second life for hundreds of thousNds [sic] of bitcoins, “as if” I said. “.

Though the number offers a wide range, Mashable calculates that even one hundred thousand bitcoins would today be worth over $91 million (about £55,400,000). So if true, Allen could have been vaulted to the top of The Sunday Times list of richest young musicians in Britain and Ireland for 2013, almost doubling Adele‘s net worth of £30 million.

(Though Allen would still fall significantly behind older performers, like Sting, in the number 10 overall spot with £180 million. In reality, Allen is still doing fine, with an estimated worth of $9 million, or £6 million.)

Allen’s offer would have come almost at the birth of Bitcoin itself. First proposed in 2008, the digital currency was first produced in early 2009. At the time, no exchanges for the currency existed. The first transaction involving bitcoin traded the currency for $0.003. But since then, it has hit a high of over $1,200 per bitcoin. Yesterday, the currency was trading at around $900.

Recently, bitcoin saw its first ATM installed in a Vancouver coffee shop. And a Norwegian man made headlines after buying a posh apartment with earnings from $27 worth of bitcoins he had bought and forgotten about years earlier.

 

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