Bitcoin Becomes NFL Locker Room Talk

Bitcoin isn’t reserved for risk-taking investors only anymore — with the meteoric rise and subsequent decline, bitcoin has become locker room talk among National Football League players.

Richard Sherman, a cornerback for the Seattle Seahawks, told CNBC that the rise in bitcoin’s price, which surpassed $19,000 at one point last year, has piqued football player’s interest. “Especially the way bitcoin boomed from nothing to … $19,000 at one point, that really caught the eye of a lot of people,” Sherman told CNBC Make It. “Ever since then it has been common conversation for a lot of us.” Sherman has been an early supporter of bitcoin, accepting it as a payment method on his website since the early part of 2014. Since an injury to his Achilles tendon, he has been delving into the world of cryptocurrency, reported CNBC. The professional athlete is also a spokesman for Cobinhood, an exchange platform, and an investor in COB, the company’s cryptocurrency.

“There are a ton of different coins,” Sherman said in the report, noting that his friends in the NFL are “trying to figure out which one is the one they should get.” Sherman noted he shies away from giving investment advice, given the volatility associated with bitcoin. “A lot of them have just been trying their best to become more educated on not only cryptocurrencies, but just stocks and trading in general. Because a lot of them have been taken advantage of by financial advisers,” Sherman said. “So people in my sport, in my field, are definitely becoming more educated and trying to be more intelligent with how they play for the money and understanding where their money is going.” Citing data from the National Bureau of Economic Research, CNBC pointed out that back in 2015, one in six players filed for bankruptcy within twelve years of retiring from the National Football League. Lots of professional football players are now seeing a need to learn about finances and don’t wish to be at a disadvantage in handling their money.