The former linebacker who appeared in "William & Mary" in 2010 explained why Bitcoin is becoming a novel investment tool for young American college athletes, and why in recent years some prominent NFL players have chosen to receive part of their compensation in BTC. He added that the players' investments are managed by agents or financial advisors, who typically take a certain percentage of the earnings. In this regard, performance returns have declined, leading many players to question why they should pay for below-average returns.
"Players want better answers as to why their money isn't yielding more returns, even though they're putting their bodies on the line each Sunday, playing 80 snaps for 17 weeks a year, and only earning $38,000 in NFL pension annually," Cook told Cointelegraph. With the average NFL career lasting about 3.7 years, players are increasingly aware of the need to secure their financial future.
"The math problem is, 'How is this contract structured? Is it big enough? How do I mitigate the risk I'm putting my body in to support me through the rest of my career?'" Cook actively works with athletes at all levels and highlighted a progressive approach at the University of Michigan, whose football team won the Big Ten Championship in 2023, ranking first nationally. "They were the first major football program to open a financial literacy course on Bitcoin, proof of work, and understanding to protect and preserve their wealth," explained Cook.
He engaged in Bitcoin education for over 50 athletes at the university, all of whom received Bitcoin for their participation. It's incredible to see this new generation of athletes and individuals who are capable, intelligent, educated, and want Bitcoin," Cook added. In the podcast conversation, Cook delved into the changing perception of Bitcoin as an investment asset for older generations.
"The baby boomer generation is starting to realize that there's no other game in town. There's nowhere else to turn. Bitcoin has a unique value proposition, whether you call it digital gold or the gold with wings, it has the fixed supply characteristic of hard money and a sound currency asset, with the volatility and upside potential of a high beta tech stock," explained Cook.
Dante Cook, the business executive of Swan Bitcoin, actively provides advice on Bitcoin acquisition, storage, and management for institutional and private investors. Listen to Dante Cook's full interview on Spotify, Apple Podcasts, Google Podcasts, or your chosen podcast platform. This article is for general informational purposes only and should not be construed as legal or investment advice. The views, thoughts, and opinions expressed here are solely the author's and do not necessarily reflect or represent those of Cointelegraph. Magazine: The Truth Behind the Cuban Bitcoin Revolution: A Field Report
Image: Why Athletes Are Turning to Bitcoin Investments in the NFL.
