Buy Signal: NFL Quarterback Tom Brady May be into Bitcoin

NFL Quarterback, Tom Brady, Could be into Bitcoin

Tom Brady’s Twitter profile has dropped a heavy hint that he is a Bitcoiner. The American football star added laser eyes to his profile, a meme associated with crypto enthusiasts.

Prominent Bitcoin evangelists have used the laser-eye statement, among them MicroStrategy CEO Michael Saylor. Before uploading his new Twitter profile picture, Brady was rumoured to be buying crypto and investing heavily in the sector.

Jason Yanowitz, the co-founder of Blockworks and Yanowitz, has claimed that Brady has been loading up on Bitcoin. Yanowitz had even challenged Brady to change his profile picture to include laser eyes, and the NFL Quarterback player did just that on May 10.

Tom Brady investing in the crypto sector

It has not yet been established whether Brady owns Bitcoin or not. However, he is investing in the crypto market following the expected launch of his NFT platform known as Autograph.

Autograph will focus on the sports sector. It will bring together some of the biggest names in the sports and entertainment industry. Users of the NFT platform will have an avenue where they can create digital collectibles. The use of NFTs has been booming, with the market now being worth hundreds of millions of dollars.

The CEO of Autograph, who is the co-founder alongside Brady, has stated that the platform will give sports fans and stars a unique experience. “Autograph will bring together some of the world’s most iconic names and brands with best in class digital artists to ideate, create and launch NFTs and ground-breaking experiences to a community of fans and collectors.”

Sports Companies venturing into crypto

Tom Brady will not be the first sports star to venture into the crypto market. Sacramento Kings, one of the leading NBA teams, has stated that it will soon enable its players to be paid in Bitcoin. However, the option to be paid in Bitcoin will be optional.

Sean Culkin, a Kansas City Chief Player, also became the first NFL player to accept payments in Bitcoin. He asked for his entire salary to be converted into Bitcoin. These changes in the sports industry come when cryptocurrencies, especially Bitcoin, are becoming more mainstream, and adoption has risen.

Bitcoin Chart 11 May 2021
BTC/USD 1 day chart, Binance, 11 May 2021. Courtesy TradingView

Even though Bitcoin’s adoption by prominent players would normally be positive for the price, Tom Brady’s crypto twitter teasing did little to boost BTC’s value. At the time of writing, Bitcoin was trading at around $55,000, 4% lower from the previous day’s price.

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A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.