NBA star Tristan Thompson regrets opting for an $82 million cash deal instead of Bitcoin for his 2015 Cleveland Cavaliers contract.
The decision highlights the financial potential of early cryptocurrency investments, as Thompson’s contract could have soared to $31.75 billion with Bitcoin’s growth.
Thompson’s $31.75 Billion Bitcoin Loss
In October 2015, NBA player Tristan Thompson chose to receive an $82 million contract in cash with the Cleveland Cavaliers. If redeemed in Bitcoin, the figure would now equal an estimated $31.75 billion. Thompson, who gained fame from the NBA and reality TV, now regrets not opting for Bitcoin. At the time, Bitcoin traded at about $270 per coin, offering a massive return if invested.
“What I know now, I would have definitely pushed to get paid in Bitcoin. It’d be so much, I’d be laughing and kicking, being like ‘this is the best gamble in American sports history.'” — Tristan Thompson
Athlete’s Bitcoin Regret Sparks Debate
Thompson’s public acknowledgment outlines the considerable opportunity cost of not investing in Bitcoin during its early days. The acknowledgment may also influence other athletes contemplating similar financial strategies. The situation exemplifies Bitcoin’s immense growth, showing how early investors benefited financially. Thompson advised cryptocurrency research before investing, highlighting the potential rewards but also the importance of informed decisions.
Growing Crypto Interest in Sports
Professional athletes increasingly explore cryptocurrency payment avenues. Thompson’s case underscores the rising trend of diverse financial strategies within the sports industry. According to assays from Kanalcoin, informed cryptocurrency investments could yield substantial returns, indicating an ongoing shift towards digital assets across professional sectors.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
