NBA Crypto Legend Charles Barkley & His Best Money Lesson

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While there is a kill professionals athletes who ventured into the cryptocurrency of Tom brady To Saquon Barkley in recent months, NBA legend Charles Barkley hasn’t been biting.

“My people don’t believe in crypto,” says Barkley CNBC do it. “I have a couple of finance guys. One of them said, ‘If you ever get into crypto, you should fire me right away.'”

“And listen, I know that [crypto] is everywhere, to be honest with you, but my people don’t believe in [it],” he says.

Although Barkley has not explained why his advisers are against crypto, many experts warn that cryptocurrencies are volatile and recommend that people invest only the money they can afford. to lose. For example, since mid-April, bitcoin, the largest cryptocurrency by market cap, has risen from a high of around $ 63,000 to around $ 39,000 on Monday morning, according to Corner office.

Yet many athletes and investors are optimistic about the future of digital currencies.

In May, said Tom Brady, seven-time Super Bowl champion Counter that he is a “big believer” in crypto but does not disclose specific details about the crypto assets in which he has invested. As the New York Giants star Saquon Barkley announcement plans to convert all of its revenue from marketing deals and endorsements into bitcoin.

Charles Barkley, 58, who won over $ 40 million in salary during his 13-year NBA career, also says the biggest money lesson he’s had over the years is “learn to say, no.”

“And don’t feel bad about it,” he says.

The Alabama native says that when you get famous and start making money, “people ask you for money every day of your life. Every day.”

It is therefore imperative to say “no”, even when it is to family and friends.

If you don’t, you will end up going bankrupt and it will ruin all your relationships, Barkley told American Century Investments in 2016. Barkley encountered problems in 2019 after losing millions to his friend and longtime associate Donald Watkins in an investment swindle.

As for an investment advice, Barkley, who has guest on ABC’s “Shark Tank” and invested in start-ups like Zorpad and Sub-Secure, said shoot for just “single and double”.

“If you’re lucky and you hit a triple or a home run that’s fine. But you’re really trying to hit singles and doubles.”

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Disclosure: CNBC owns the exclusive rights to the off-grid cable of “Shark Tank”.

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