One of the most upsetting things about the cryptocurrency boom is that the majority of us missed the boat in some way by either not investing at all or calling it quits too soon. Seahawks cornerback Richard Sherman can relate. He could have been a far wealthier man than he already is had he kept his early cryptocurrency investments in his crypto-wallet a bit longer, TMZ reports.
Sherman was one of the early adopters who accepted Bitcoin as a payment method on his website in 2012 and 2013 after being a fan of it for years and seeing the long game of the coin being used for everyday purchases. Unfortunately, he converted all his bitcoins for cash in 2013 after it passed the $1,000 per coin mark, which was the biggest jump at that time in the currency's history.
Doing that probably seemed like a smart move back then, particularly since the price of bitcoin would continue to fluctuate for the next few years. But hindsight is everything. The value of bitcoin soared at the end of 2017 to $19,000 per coin, and Sherman could have arguably made millions and maybe even billions of dollars, depending on how many bitcoins he had. It's not clear exactly how much of it he had collected, so it's hard to tell just how much money he could have made. But if it's even a fraction of the botched bitcoin investment former Dallas Cowboy running back Darren McFadden could have cashed out for $237 million, it's more than enough to miss.
Sherman told TMZ he did make some profit from the whole thing, and he's still interested in the world of cryptocurrency. He's even currently acting as the face of the cryptocurrency trading platform Cobinhood. For all he may have lost, he's doing pretty well for himself without it. But still, missing out on an easy bitcoin payday has to sting.
Oh well. At least it's not as bad as those early bitcoin adopters who forgot their wallet passwords with no way to reset it, forever locking away millions of dollars in bitcoin they'll never be able to claim. It's the kind of thing you're better off just not thinking about.