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Athlete Richard Sherman opened up about Cryptocurrencies


Mar 01, 2018 Posted /  3492 Views


Athlete Richard Sherman opened up about Cryptocurrencies

An ESPN sports business reporter, Darren Rovell tweeted in December 2017, "It's insane the amount of athletes talking cryptocurrency in the last two weeks." The craze among crypto devotees has not lessened as athletes get indulged in crypto talks wherever they get an opportunity to do so. The sportsperson discusses opportunities and pitfalls of volatile currency even in a locker room and publicly as well.

One of such athletes is Richard Sherman who is renowned for Super Bowl XLVIII championship and is a 4-time Pro Bowler. The sportsman is now acting as a spokesperson for a cryptocurrency service provider, Cobinhood that will provide a virtual wallet for storage of Bitcoins, Ether, and over 40 other alternative coins.

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In an interview with inc.com, Sherman talked about his investment strategy and his involvement with virtual tokens.

First Investment

Sherman enrolled in investment business with municipal bonds as his first investment. The athlete is a low-risk taker in case of money and signed a 4-year deal worth $2.22 million in his initial years and invested in mutual funds as well. Currently, a part of the wealth acquired by Sherman is engaged in Wingstop, a food chain endorsed by him and some investments in real estate business. The athlete holds equity shares and has also invested in Berkshire Hathaway's fund.

Cryptocurrency Craze

Sherman stated that two years ago he made his initial investment in cryptocurrency and Bitcoin was his first token. He got to know about virtual tokens six years ago when the fans desired to use Sherman’s website and pay via Bitcoins. He accepted virtual tokens as suggested by his manager. In hindsight, Sherman regrets that they did not hold on it.

While commenting on his favorite virtual token, the sportsperson stated that he is fond of Ethereum as he observed people branching more to it then Bitcoins.

Investment ratio

Sherman revealed that around 5% of his wealth is invested in crypto and comparatively less in stocks, but more in bonds.

Next move of Virtual Tokens

On asking about next big move of cryptocurrencies, Sherman shared his views that giant companies with IPO’s will move towards utilization of crypto coins. He believes that crypto users will move towards using virtual currencies for day to day transactions as well such as buying of groceries and clothes.

Promoting COBINHOOD Sherman said that the platform allows its users to eliminate trading fees and make more profits.


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