Tom Brady’s Bitcoin game was a letdown, despite his “laser-eye” offensive … Now the seven-time Super Bowl champion is taking advice
Tom Brady thought Bitcoin was going deep, but it seems that the world’s leading crypto asset isn’t using the same playbook as the seven-time Super Bowl champion quarterback.
Since Brady changed his Twitter profile picture back in May, in an obvious nod to his acceptance of Bitcoin BTCUSD, -0.87% and crypto, the world’s most prominent digital asset has moved mainly south.
And not in the south, like from the cold New England to the warmer climes of Tampa, Florida, but in a way that prices are distorted.
On Monday, Brady, an almost certain first-round Hall of Fame quarterback, admitted that his timing could have been a little better with Bitcoin:
“Okay, the laser eyes didn’t work. Brady wrote, responding to a tweet from BlockWorks co-founder Jason Yanowitz, who highlighted Brady’s image change from a disappointing Bitcoin chart.
Bitcoin prices have fallen nearly 40% since Brady’s image change, and the cryptocurrency has fallen over 50% since its peak in mid-April.
Ether ETHUSD, -2.39%,
running on the Ethereum blockchain is also well behind its May high but was up sharply on Monday despite reports of increasing regulatory crackdowns in China and one of the largest crypto exchanges, Binance, which is facing UK restrictions and forced is to retire from doing business in Ontario, Canada.
Still, Bitcoin prices are up 17% year-over-year, while Ether prices are up over 180% and the meme asset Dogecoin is up 5,300% so far in 2021.
Conventional investments have produced comparatively more ordinary returns, with the Dow Jones Industrial Average DJIA -0.44% and the S&P 500 Index SPX + 0.23% each gaining at least 12% and the Nasdaq Composite Index COMP, +0.98 % with a return of around 14%.
But Brady is no ordinary quarterback.
Even before his Bitcoin tweet in May, he had signaled his interest in crypto, much like one of his popular Tampa Bay Buccaneer targets, Rob Gronkowski, and announced in April that he would be launching a non-fungible token or NFT platform called Autograph Market brings.
What advice would you give the Pro Bowl quarterback on digital assets and bitcoin?