Bitcoin and the NFL – Why Athletes Are Turning to Bitcoin Investments

Source: Web3 Frontier

Dante Cook, Head of Business at Swan Bitcoin, reveals why American athletes and NFL players are attracted to Bitcoin’s value proposition.

Swan Bitcoin business director Dante Cook said that Bitcoin’s “hard currency” characteristics is becoming an attractive prospect for American athletes looking to secure their income.

In the latest episode of Decentralize with Cointelegraph, Cook reveals why young American athletes are attracted to Bitcoin investing and how financial institutions and seasoned investors are becoming increasingly aware to the compelling value proposition of this remarkable cryptocurrency.

The former Division I linebacker, who starred on "William & Mary" in 2010, explains why Bitcoin is becoming a novel investment vehicle for America's young college athletes and why some Famous NFL players have chosen to receive part of their compensation in BTC.

He added that players' investments are managed by agents or financial advisers, who typically take a percentage of the revenue. In this regard, performance returns have declined, leaving many players wondering why they are paying for below-average returns.

"Players want better answers as to why they don't get more for their money, even though they scored 80 points in a game on Sunday and only get paid for 17 weeks a year , and only received a promised pension of $38,000 per year from the NFL,” Cook told Cointelegraph.

Cook said players are increasingly aware of the need to secure their financial future, considering the average NFL career lasts about 3.7 years.

"How did this math problem work out? Is this contract big enough? I'm putting my body at risk Is it low enough to sustain me for the rest of my career when I'm done?"

Cook also actively works with and interacts with athletes at all levels and emphasizes the progressive nature of the University of Michigan An example of the method. The university's football team won the 2023 Big Ten Football Championship and is the No. 1 team in the country.

"They are the first major college football program to have a financial literacy course on Bitcoin, proof of work and understanding how players protect and preserve wealth," Cook explained.

< p>Cook participated in the Bitcoin education of more than 50 athletes at the university, and all students received Bitcoin for their participation.

“You’d be surprised how these kids would jump in and ask about BRICS, fiat currencies, inflation, and Fed policy. It’s incredible. You start to have this new class of athletes and people , they are capable, smart, educated, and want Bitcoin," Cook added.

In the podcast conversation, Cook also delved into the changing perception of Bitcoin as an investment asset among older generations of investors.

“The baby boomers are starting to realize that there’s no other game in town. There’s nowhere else to turn. Bitcoin has a unique value proposition, you know, they call it index gold or winged Gold, whatever you want to call it, has the characteristics of a fixed supply of hard money and sound money assets, with high volatility and high volatility. High beta upside for tech stocks," Cook explained.

Swan Bitcoin’s practice leaders actively advise institutional and private investors on the acquisition, storage and management of Bitcoin.