Billionaires will be made by Bitcoin, states NBA star

Utkarsh Gupta

In 2021, Bitcoin finally received mainstream credibility but NBA star Spencer Dinwiddie has been in the fold since 2019. The former Brooklyn Nets point guard and current Washinton Wizards player told CNBC, “I look at it as the birth of a new asset class”.

Dinwiddie has been an avid supporter of blockchain technology since 2019. The basketball player also tried to tokenize his $34.4 million NBA contract in BTC payments, but it didn’t pan out. However, the NBA veteran has remained loyal to Bitcoin.

In the interview, Dinwiddie suggested that cryptocurrency is one of the few medium to build generational wealth. While stocks would give returns of 7% or 10%, some digital assets would multiply tenfold. He said,

“If you have a long-term investment strategy and you have a day-to-day job that can get you through five years, 10 years, then look at this as a very long-term type of thing because this asset class isn’t going anywhere. There will be billionaires made out of this market.”

Now, Dinwiddie can be considered as one of the early adopters but now other celebrities are also following him.

Aaron Rodgers, Tom Brady, all know about Bitcoin?

Last week, the Green Bay Packers Quarterback announced a partnership with CashApp to convert a part of his NFL salary into Bitcoin. The 2020 NFL MVP signed a $134 million deal with his team in 2018. He appeared extremely pumped during his Twitter announcement.

And that wasn’t the only NFL superstar involved in the fold. Tom Brady, arguably the most successful player with seven Super Bowl victories, recently traded one Bitcoin with a fan to acquire the football with which he made his 600th career touchdown pass. The trade involved FTX as a broker. Additionally, it is important to note that Brady also got a stake in the FTX exchange.

Now, these factors do not impact Bitcoin’s price by any means. However, it certainly assists in normalizing cryptocurrency usage. Hollywood superstar Matt Damon also starred in a recent advertisement, hence it is safe to suggest that there is no looking for the crypto industry now.