Spencer Dinwiddie, a discovered NBA star in a young age, is not as rich as other professional athletes. He has already played on three professional teams and now he plays for Brooklyn Nets and has a less-than-stellar scoring record. He is obviously gaining more professional career experiences. However, under his NBA contract, he earns around $1 million per year before taxes.
Dinwiddle is likely to make more profits from endorsement contracts, investments, advertising one-offs and his franchises. He recently joined the historical record of professional athletes who have cryptocurrency. He started last year when the price was skyrocketing and caught the bug. It was detected that he was checking the price of bitcoin while others were checking their social medias.
The up-and-coming player soon displayed all the classic signs of bitcoinitis – a condition where one catches the bitcoin gold bug and becomes epidemic. Dinwiddie checks his phone regularly to see prices and even tried to persuade Trevor Booker, a NBA player, to join the group with his venture capital company’s endowment but he refused due to lack of trust in volatility. Dinwiddie also showed some symptoms of early trader, setting concrete limits on his trading behaviour. He stated that if he knew that he was going to make a trade and cross with practice, he’d set a super-strict sell stop.
Veteran traders in bitcoin have learned and practiced a lot with the exception of unexpected highs such as 100 percent increase in a short period, purchase and hold remains a tactical plan for long-term investment. For instance, those who were holding enough since 2015 have made thousands of dollars in real value. Definitely, active and professional traders who sold at the high last winter have been able to re-buy their sold coins and boost their position.
Almost all NBA players agree on a licensing contract with Ike or other major sport brands to advertise their names. Dinwiddie used this fact to open a business named Project Dream. Project Dream will provide 50% of all proceeds, a quarter of which will go to the Dinwiddie Family Foundation which will be used for underprivileged kids to go to college. The shoe line is called K8IROS and will be soon launched. Dinwiddie led the crucial role in every aspect of the product’s development and has broadened his influence to bitcoin by allowing bitcoiners will able to purchase shoes with the world’s first and most valuable cryptocurrency.
Author: Jieun Lee