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NFL Players Reportedly Looking To Invest In Cryptocurrency

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Leading National Football League or NFL, players are looking to invest in the emerging market of cryptocurrency even though it looks risky in a bid to secure their future, according to a CNBC report.

Surprisingly enough, a study by the National Bureau of Economic Research in 2015 had found that about one in every six NFL players files for bankruptcy within 12 years of their leaving the sport.

The future of these highly paid professional athletes is uncertain as bad form or injuries could end their careers. Further, since many of the players do not have enough exposure to the financial markets, they are often misguided or taken advantage of by financial advisers.

Someone who is an exception is Seattle Seahawks' cornerback Richard Sherman, who has been handling bitcoin and other cryptocurrencies since 2014. He has been accepting bitcoin as a method of payment for his online official merchandise store since then. He calls cryptos as "the currency of the future".

Sherman told CNBC that a lot of his professional colleagues at NFL have been discussing bitcoin these days after the recent boom in price, ever since the dominant cryptocurrency shot up nearly 20-fold, or over 1,900 percent, to over $19,000 in mid-December 2017 from about $1,000 at the start of the year.

Sherman said he himself started investing in bitcoin in June, when the price of a single bitcoin was over $2,000. He currently also holds other cryptos like ethereum and litecoin. He has been out of action since November after he ruptured his Achilles tendon.

"Knowledge is power! This is what I'll be doing while I'm away from the field... Learning about Crypto and how to trade coins," Sherman said in a post on Twitter.

by RTTNews Staff Writer

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