While a growing number of athletes all over the world are jumping into cryptos with so much fanfare, former NBA player Charles Barkley decided to listen to his financial advisors instead. And according to them, crypto is not the way to go.
The basketball star didn’t give any specific details on why his financial advisors advised him to stay away from investing in cryptocurrencies. But what is certain is that he is heeding their advice and won’t make investments or initiate any involvement in cryptos.
‘Fire me on the spot’
In an interview with CNBC Make It, Barkley said: “I got a couple of financial guys. One of them said: If I ever put you in crypto, you should fire me on the spot.”
Barkley’s advisors are not the only ones who are extremely cautious about cryptocurrencies. A lot of experts in the financial sphere share the same concern on cryptos’ volatile nature which could easily wipe out investors’ funds. Investors have always been advised to only invest money that they can afford to lose.
Crypto believers
While Barkley decided to stay away from cryptos, a lot of his peers in the world of sports are diving straight into these digital assets.
Super Bowl champion Tom Brady has been reported to have already invested in cryptocurrencies. New York Giants star Saquon Barkley said that he plans to invest all his income into bitcoin.
Barkley has learned to be cautious when it comes to investing, as he was entangled before in an investment scam that wiped out his millions. That is why he is now being careful with his investment options and has a team by his side to guide him on his financial decisions.
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