The American football star reminded the importance of long-term investment in Bitcoin. How?
The growth of Bitcoin and the coin market in general has reminded us of key features of the digital asset industry. Firstly, the development of cryptocurrencies still occurs in cycles of four years, during which the market manages to collapse and give out growth. Secondly, the largest coins are still just as capable of yielding tens and even hundreds of per cent in a week, which attracts investors. Now footballer Odell Beckham Jr. has decided to remind about his faith in crypto.
The growth of the coin market is sure to continue. As many investors believe, the peak of the current bullrun is likely to be recorded in the second half of 2025, which means there is still time here.
What will be the maximum Bitcoin rate during this cycle? The versions of analysts differ significantly from each other. For example, Bernstein experts earlier called the $200,000 target “conservative,” meaning there is probably no point in doubting its realism.
As noted today by a representative of the largest investment fund VanEck Matthew Siegel, he and his colleagues bet on BTC at the level of 180 thousand dollars.
In addition, the expert noted that the current market behaviour is generally consistent with what was observed immediately after the US presidential election in 2020. Therefore, VanEck employees call the current growth of the industry only the beginning, and also count on more and more new records of the BTC rate during the two quarters.
VanEck investment fund manager Jan van Eck
Of course, this forecast does not have to come true, but such statements of the employees of the largest funds form the expectations of market participants. And this, in turn, directly affects the actions of the latter as the bullrun develops.
Who invested in Bitcoin
Odell Beckham Jr. is an American football star who currently plays for the Miami Dolphins team. He played for the Los Angeles Rams in 2021 and then decided to receive a salary of $750,000 in Bitcoin as part of a partnership with Cash App.
The athlete converted the said amount into BTC at an average exchange rate of $64,293 on 12 November 2021. At that time, the first cryptocurrency had just set a historical price high for the growth cycle, so the timing of the investment in retrospect was horribly chosen.
American football player Odell Beckham Jr.
Odell, however, has not lost faith in the market since then. Amid the current market rise, he posted a chart of Bitcoin above $92,000 with the following quote, which Decrypt cites.
So, who was it that said getting paid in Ramp in Bitcoin was a stupid idea?
BTC’s rise above $90k means that the return on that athlete position has reached 40 per cent. However, it’s unknown if he has retained it in its entirety.
Entering crypto for three years is not an easy task, and especially for beginners. Still, in January 2022, the mentioned amount fell to $412,000, well, in November of the same year Bitcoin fell more than twice more, dropping to a local low of $15,476 amid the collapse of the FTX exchange.
However, judging by Odell’s comments on Twitter, he really hasn’t lost faith in digital assets and continues to emphasise this. Accordingly, in theory, he could not only keep the BTC he received but also increase its volume.
Beckham Jr. is not the only athlete who converted his salary into crypto. The former representative of the Carolina Panthers team Russell Okun surprised the public in 2020, when he transferred $6.5 million into Bitcoin at the rate of the latter at 27 thousand. Now this amount is estimated at $20.9 million.
Cryptocurrency investors during the bullrun
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Why you don’t need to disclose your crypto connection
Ideally, though, it’s best not to tell anyone about your cryptocurrency investments, as it attracts the attention of criminals. According to The Block, the day before, a body was found in a Montreal park, identified as 25-year-old cryptoinfluencer Kevin Mirshahi, who had been kidnapped earlier.
Police suspected Kevin’s death as early as the summer of 2024, but they have only now managed to find him. He, along with three other people, were kidnapped in late June – leaving only Mirshahi ultimately undetected, as the other victims were released unharmed the next day.
Mirshahi was a known fan of digital assets. In particular, he ran the investment firm Crypto Paradise Island, meaning his connection to coins was not hidden.
The park in Montreal where Kevin Mirshahi’s body was found
It is possible that such a thing was the reason for the kidnapping. Still, well-known wealthy cryptoinvestors are often kidnapped and tortured for the sake of getting to their coins. In this regard, telling outsiders about their own investments – and especially in large amounts – is definitely not a good idea.
The story of Odell Beckham Jr. is reminiscent of a well-known statistic among Bitcoin investors. As of right now, any person who bought BTC and stored the cryptocurrency for at least four years was in the plus side. And since that time frame isn't the longest among long-term players, there are more and more reasons to get involved with the coin.
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