Tom Brady's Bitcoin Investment: Did He Make The Right Move?

Tom Brady, the seven-time Super Bowl champion, is a well-known supporter of Bitcoin. In May 2021, he changed his Twitter profile picture to include laser eyes, a symbol used by Bitcoin enthusiasts to show their commitment to the cryptocurrency. Brady and his wife, Gisele Bündchen, also took an equity stake in the cryptocurrency exchange FTX and starred in an FTX advertisement promoting cryptocurrency. In October 2021, Brady offered a Bitcoin to a fan who returned his 600th touchdown ball, demonstrating his willingness to embrace and promote Bitcoin.

Tom Brady's support for Bitcoin

Tom Brady, the seven-time Super Bowl champion, has shown his support for Bitcoin in a variety of ways. In May 2021, he changed his Twitter profile picture to include "laser eyes", a symbol used by Bitcoin enthusiasts to show their "laser focus" on increasing prices. He also publicly stated that he was a "big believer" in cryptocurrencies and confirmed that he had purchased digital coins.

Brady's support for Bitcoin was further demonstrated when he offered a Bitcoin to a fan who returned his 600th touchdown pass ball. The fan, Byron Kennedy, had initially received the ball from Tampa Bay Buccaneers wide receiver Mike Evans, who threw it into the stands. Kennedy negotiated with the team and returned the ball, receiving a package of gifts in exchange, including season tickets and autographed memorabilia. Brady then decided to gift Kennedy a Bitcoin, valuing it at just under $63,000.

In addition to his personal investment in Bitcoin, Brady and his wife, Gisele Bündchen, took an equity stake in FTX, a cryptocurrency exchange. They serve as ambassadors for the company and have starred in an FTX television advertisement promoting cryptocurrency. Brady's involvement with FTX further highlights his support for Bitcoin and his belief in the potential of cryptocurrencies.

Tom Brady's actions and investments have not only shown his support for Bitcoin but also contributed to the growing popularity of cryptocurrencies among NFL players and the general public. His influence as a sports icon has likely played a role in increasing awareness and interest in Bitcoin and other digital currencies.

Tom Brady's investment in FTX

In June 2021, Tom Brady and his then-wife, Gisele Bündchen, announced they had closed an equity deal with FTX.com and FTX.US, legally separate entities. Brady became a brand ambassador for the exchange, while Bündchen became an environmental and social initiatives adviser. The couple quickly became prominent faces of FTX, alongside its founder, Sam Bankman-Fried.

Brady expressed his enthusiasm for the deal, stating:

> "It's an incredibly exciting time in the crypto-world, and Sam and the revolutionary FTX team continue to open my eyes to the endless possibilities. This particular opportunity showed us the importance of educating people about the power of crypto while simultaneously giving back to our communities and planet. We have the chance to create something really special here, and I can't wait to see what we're able to do together."

Bündchen added:

> "It was fascinating getting to know more about the crypto universe! Cryptocurrency will become more and more familiar to all of us as time goes on. What attracted me most about this partnership was the potential to apply resources to help regenerate the Earth, and enable people to lead better lives, therefore generating real transformation in our society."

Following the announcement, Brady and Bündchen starred in an FTX television advertisement, in which they called their friends to ask if they were "in" on crypto. Brady also appeared in multiple other commercials promoting the company.

It is estimated that Brady invested more than $84 million into FTX to obtain 1.8 million shares in the company. However, in November 2022, FTX filed for bankruptcy, and Brady now risks losing his complete strategic investment.

Tom Brady's Bitcoin giveaway to a fan

Tom Brady, the legendary NFL quarterback, made headlines when he gave away Bitcoin to a lucky fan. The incident occurred during a Tampa Bay Buccaneers game against the Chicago Bears at the Raymond James Stadium in Tampa, Florida, on Monday, October 25, 2021. The Buccaneers registered a thumping 38-3 win, but it was Brady's gesture that stole the show.

The 600th Touchdown Ball

Tom Brady, the seven-time Super Bowl champion, achieved a unique milestone during the game by throwing a record-breaking 600th NFL touchdown. Wide receiver Mike Evans caught the pass and, in a celebratory gesture, tossed the ball into the stands to a fan, Byron Kennedy, who was wearing a Buccaneers jersey.

Negotiations to Get the Ball Back

The Buccaneers organization soon realized the significance of the ball and wanted to retrieve it for Brady. TV broadcasts captured team officials negotiating with Kennedy to get the ball back. Kennedy, a 29-year-old local legend, agreed to return the ball in exchange for other game balls, autographed memorabilia, and season tickets.

Brady's Bitcoin Giveaway

In addition to the package of gifts from the team, Brady personally offered to give Kennedy a Bitcoin. At the time, a single Bitcoin was trading for about $62,500 to $63,000. Brady, a part-owner of the cryptocurrency exchange FTX Trading Ltd. and a believer in Bitcoin, made the offer in a tweet directed to the crypto exchange. FTX responded that they were ready to make the trade.

The Value of the 600th Touchdown Ball

While Kennedy received an impressive haul of gifts and memorabilia, some experts believe he could have negotiated for more. Ken Goldin, a collectibles expert and founder of Goldin Auctions, estimated that Brady's 600th touchdown ball could be worth over $500,000 in an open auction. However, Kennedy has stated that he does not wish to renegotiate and is happy with the deal, although he did express interest in playing a round of golf with Brady.

Tom Brady's belief in the future of cryptocurrencies

Tom Brady, the seven-time Super Bowl champion, has expressed a strong belief in the future of cryptocurrencies. In May 2021, he changed his Twitter profile picture to include "laser eyes," a symbol used by bitcoin enthusiasts to indicate their "laser focus" on driving up prices. While speaking at the CoinDesk Consensus 2021 forum, Brady confirmed that he had purchased digital coins and was a "big believer" in cryptocurrencies. He stated, "I don't think it's going anywhere. I'm still learning so much. It's definitely something I'm going to be in for a long time."

Brady's actions and statements demonstrate his optimism about the potential of cryptocurrencies. He has actively invested in Bitcoin and even accepted it as a means of exchange. In October 2021, Brady traded a Bitcoin for his 600th touchdown ball, which had been caught by a fan. The fan, Byron Kennedy, had initially negotiated with the team and returned the ball, but Brady wanted to personally thank him for his generosity. The football star acknowledged the potential value of the ball, estimated at $500,000, and offered Kennedy a Bitcoin, which was trading at around $62,500 at the time.

Brady's belief in cryptocurrencies is further highlighted by his partnership with the cryptocurrency exchange FTX. He and his wife, Gisele Bündchen, took an equity stake in the company and serve as ambassadors. Their involvement with FTX indicates Brady's long-term commitment to the industry and his desire to promote the adoption of cryptocurrencies.

Moreover, Brady has leveraged his influence to encourage others to explore the world of cryptocurrencies. He starred in an FTX television advertisement where he called his friends and acquaintances to ask if they were "in" on cryptocurrencies. By publicly expressing his support for Bitcoin and actively participating in the industry, Brady has become a prominent figure in the cryptocurrency community.

Despite some volatility in the market, Brady remains optimistic about the future of cryptocurrencies. His actions and investments demonstrate a strong belief in their potential as a viable form of currency and a valuable investment. Brady's influence has the potential to shape the perception of cryptocurrencies and encourage wider adoption. As he continues to be a prominent advocate, the impact of his support for cryptocurrencies may be significant in the years to come.

Tom Brady's 'laser eyes' and their impact on Bitcoin's price

In May 2021, Tom Brady, the seven-time Super Bowl champion, changed his Twitter profile picture to include "laser eyes", a symbol used by bitcoin enthusiasts to show their "laser focus" to push the cryptocurrency's price higher. On the day Brady changed his avatar, Bitcoin's price was $56,245, according to Coin Metrics. However, the price of Bitcoin soon took a turn for the worse, falling nearly 40% to $34,665 on a Monday in June.

Brady acknowledged the drop in Bitcoin's price since his laser eyes tweet, asking his Twitter followers: "Alright the laser eyes didn't work. Anyone have any ideas?" Despite the price drop, Brady confirmed that he was a ""big believer" in cryptocurrencies and that he had bought digital coins. He also stated that he didn't think crypto was "going anywhere", indicating his long-term commitment to the asset class.

The laser eyes phenomenon is a trend among Bitcoin enthusiasts on Twitter, who add laser eyes to their profile pictures to indicate their support for the cryptocurrency and their intention to push its price higher. While Brady's laser eyes didn't have the desired effect on Bitcoin's price in the short term, it's worth noting that the cryptocurrency market is known for its volatility, and prices can be influenced by a multitude of factors, including regulatory changes and market sentiment.

Brady's embrace of Bitcoin and his laser eyes tweet generated a lot of buzz, with some speculating that his support could move the needle for Bitcoin's price. However, it's important to remember that the cryptocurrency market is complex and influenced by a multitude of factors, and no single individual, no matter how influential, can guarantee price movements.

In conclusion, while Tom Brady's laser eyes didn't have the immediate impact on Bitcoin's price that he and his followers may have hoped for, his support for the cryptocurrency is indicative of his long-term belief in its potential. As an influential celebrity, Brady joining the ranks of Bitcoin enthusiasts may have a more subtle effect on public perception and interest in the cryptocurrency, potentially contributing to its growth and adoption over time.

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