Bitcoin Investments: The Emerging Trend Among American Athletes and Older Investors
Summary:
Dante Cook, the head of business at Swan Bitcoin, highlights Bitcoin's characteristics as "hard money" are increasingly attracting American athletes who wish to protect their wealth. In a recent podcast, Cook discusses why athletes are investing in Bitcoin and how financial establishments and seasoned investors are escalating their interest in this top cryptocurrency. Cook also shares an instance of a progressive approach at the University of Michigan, where athletes are being educated on Bitcoin. Further, he explained how older investors are beginning to see Bitcoin as a unique investment opportunity that promises a solid return while taking on the risk of high volatility.
Dante Cook, Swan Bitcoin's Business Director, notes that Bitcoin's traits as "hard money" are increasingly appealing to American athletes keen to protect their revenue. In a recent discussion on the Decentralize show with Cointelegraph, Cook provides insight into why young American sports stars are intrigued by Bitcoin investments, as well as how financial establishments and experienced investors are recognizing the top cryptocurrency's potent value proposition. Cook, a previous Division One linebacker representing William & Mary in 2010, discusses why Bitcoin is emerging as an innovative investment method for young college athletes in America and delves into why renowned NFL players have opted for components of their payout in Bitcoin in recent years. He also notes that players typically have their investment portfolios managed by agents or financial counsellors, who usually benefit from a share of their earnings. However, diminishing performance returns have left a number of players questioning the value of these below-par returns. Cook shared with Cointelegraph that players now demand answers regarding subpar returns on their investment, considering their physical exertion and limited payment periods.
Considering that the average NFL career length is 3.7 years, Cook states that players are now more conscious than ever about securing their financial future. College football programs such as the University of Michigan team, who bagged the 2023 Big Ten Football Championship and currently hold the top-ranked position nationwide, showcase progressive perspectives towards this subject. As Cook shares, the football program is the first of its kind to educate on Bitcoin, proof-of-work, and teachings on wealth protection among their players.
Cook took the lead in familiarizing over 50 university athletes with Bitcoin, all of whom were also given bitcoin for participation. He noticed intriguing questions from these students about topics like BRICS, fiat currencies, inflation, and federal reserve policies. Cook also touched upon the evolving viewpoint of Bitcoin as an investment asset among older investors. He said these older generation investors are also starting to grasp Bitcoin's unique appeal, which combines hard money and sound money assets' fixed supply characters along with the high volatility and significant, risky upside of a tech stock. Dante Cook is engaged in advising institutional and private investors regarding Bitcoin procurement, maintenance, and management.
This news piece is intended for general information and does not serve as legal or investment advice. The views expressed here are solely of the author and may not represent Cointelegraph's views and opinions. Listen to Dante Cook's full interview on Spotify, Apple Podcasts, Google Podcasts, or your preferred podcast platform.
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Published At
12/26/2023 4:20:00 PM
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