NFL Football Star Richard Sherman Invested In Bitcoin, Litecoin And Ethereum
NFL Star Richard Sherman Invested In Bitcoin, Litecoin And Ethereum
Richard Sherman has already won a Super Bowl and has several millions of dollars after playing in the NFL. One of the things he bought with his money was a Dodge Challenger. However, he has been spending the funds very wisely. During a conversation with CNBC Make It, he talked about how he spent the money he received and about his investments, including cryptocurrencies.
The car he bought was a 2012 Dodge Challenger when he was playing at the Seattle Seahawks. At that time, he paid for it between $30,000 and $35,000. Ultimately, he sold the car just a few months ago in 2018.
According to CNBC, Sherman earned $56.8 million from his professional contracts. Now he owns a Tesla and a Maybach. As he was growing up in Compton, California, he explained that every single time he earned a dollar, it was already a dollar spent and that there was no concept of saving.
When he started working at the NFL he received around $557,000 in 2017. As he grew in a low-income community, he learned how to save and invest the funds he received for his work. He was conscious of his background and this is why he was cautious about spending money.
Sherman is also an active investor. He has purchased municipal bonds and invested in mutual funds. Interestingly, he has decided to enter the cryptocurrency market as well. He invested in Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH), three of the most popular cryptocurrencies in the market.
Nevertheless, this is not all he did in the cryptocurrency space. He is also a spokesperson for the cryptocurrency exchange Robinhood. He has also invested in the company’s own coin called COB.
His grandmother has also been purchasing Bitcoin and cryptocurrencies. Back in December 2017, when Bitcoin was close to $19,000, he had to stop her from buying Bitcoin because she was very active in the market. Bitcoin reached $20,000 in December 2017 and dropped down to $3,250 a few months ago. This was the lowest point registered by Bitcoin in over a year.
Regarding players that begin their careers, Sherman says that they should try to live within their means. They do not know how long their career will last and how much they will eventually make. If new players are able to save as they receive their funds and invest the money wisely, they will be able to provide wealth for themselves and also for their families in the future.
Currently, each Bitcoin can be purchased for $3,470.