04 Feb What can cryptocurrency learn from Super Bowl LII?
It’s Super Bowl LII Sunday and I was pondering the connections between cryptocurrency and the biggest sports event of the year. Let’s see if we can tie these two ideas together.
Volatile football & markets
The first obvious connection is volatility. What could be more volatile than the cryptocurrency market with recent record lows in January and trading below $8,097 earlier this Super Bowl Sunday morning?
The odds on the big game are also volatile with big changes since Thursday as oddsmakers assess the betting trends.
Clearly, the New England Patriots are favored but there is lot of Philadelphia Eagles fans ready to bet with passion and not by the numbers.
Sounds a lot like cryptocurrency investments doesn’t it?
Gamblers will bet an estimated $4.76 billion on the Patriots-Eagles matchup.
The cryptocurrency market cap has fluctuated wildly between $400 billion and $750 billion in the past two months and sits at $399.25 billion today according to coinmarketcap.com.
Pros vs amateur bettors/investors
When it comes to cryptocurrency investments, the Super Bowl is a lot the same. You’ve got professional investors and bettors who run with professional market knowledge, experience, research and speed.
And then you’ve got the amateurs. The mom-and-pop investors who invest with emotion, cross their fingers and hope for the Hail Mary pass and a Hail Mary investment win.
There were a lot of cryptocurrency Hail Mary passes in 2017, and some big market touchdowns. The problem is, experience starts to win out in the second half.
Super Bowl LII and super investment advice
It’s easy to find analysts and experts who think they have the key to beating the line on the Super Bowl game. Same with cryptocurrency. So, who better to offer some cryptocurrency advice than NFL Seahawks’ cornerback Richard Sherman?
Here’s a few thoughts from his January 10, 2018 blog post:
“During my time off the field, I have learned that our increasingly digital world is evolving into something that many cannot comprehend. I am excited to see the rise of a new next-generation cryptocurrency and see what 2018 has in store for bitcoin, Ripple, ETC, etc. My biggest 2018 goal is to become an expert in the crypto and blockchain space and I expect big growth from it all. If I did have to pick the three coins that I’m watching closely to kick off this year, I would rank them as follows…
However, don’t take my advice for your own, do your research and invest your time to look beyond bitcoin and the increasing number of exciting projects that will transform our world and challenge the status quo.”
He’s also tweeted in the past months several times about cryptocurrency and how it’s common locker room talk among NFL pros.
Here’s a couple of examples of why Sherman is a sharp cryptocurrency cornerback.
Do your research
Whether you’re betting on the big game or the cryptocurrency market, do your research. Sherman walks that talk in a Dec 12, 2017 tweet: “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
#COBINHOOD #Cryptocurrency #ad”
He also reaches out to experts on his blog, whether it’s football or cryptocurrency as he showed in this Dec 15, 2017 tweet:
“Brought my man @CliffAvril in this week to talk about cryptocurrency, NFL rules and life on IR.” ~ @RSherman_25
Diversify your holdings
Just like you need fast offense and strong defense in football, you need both in your investments and business.
The 4-times NFL All-Pro cornerback started accepting bitcoin on his website in January 2014, where he sells a range of athletic gear.
His agent told the Seattle Times in Feb 2014 that they receive 30 or 40 orders per month using cryptocurrency.
Give back to your community
His foundation Blanket Coverage also works hard to give students the materials and education they need to succeed. Another lesson about giving back to others from some of your investment success.
Richard Sherman, like many pro athletes, is a man with a mission on the football field, in his community and in the cryptocurrency market.
Enjoy the Super Bowl today and think about supporting some of those deserving charities with your hard-won cryptocurrency.
Author: Jeff Domansky, Managing Editor
Visuals: Super Bowl via Roku, RichardSherman25.com