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Charles Barkley, Basketball Legend: My People Don’t Believe in Crypto

Charles Barkley,

NBA legend, stated that his financial advisors don’t recommend investing in cryptocurrencies. He did not explain why they were so negative about digital assets.

Barkley Advisors Say No To Crypto

In a recent interview for CNBC, the former professional basketball player Charles Barkley revealed that the people who run his financial operations are not keen on virtual currencies. He said that one of his advisors demanded to be fired if he ever recommended dealing with digital assets.

“My people do not believe in crypto. I had a few financial guys. One of them said, “If I ever put your name in crypto, you should fire us immediately.” ‘”

The 58-year-old American, who was named one of the 50 Greatest Players in NBA History, did not explain why the analysts consider digital assets as a no-go area. He did however agree that Bitcoin, Ethereum and other virtual currencies are growing in global popularity:

“And listen, I know that [crypto] is all over the place, to be honest with you, but my people don’t believe in [it].”

Charles Barkley also known as Sir Charles, stated that people shouldn’t rush to take up new opportunities. He revealed that the most important money lesson he’s learned throughout his 13-year basketball career is “learn to say no and don’t feel bad about it.”

Charles Barkley
Charles Barkley, Source: USA Today

Other sportsmen love digital assets

While the legend of basketball seems to be unfavorable towards digital assets, many players and teams from the US have expressed their support for Bitcoin and other altcoins in the past few months.

For example, at the beginning of April, the NBA giant – the Sacramento Kings – informed that everyone in the organization could soon start receiving their salaries in BTC instead of dollars. Vivek Ranadive, the Chairman and Governor of the team, stated:

“I’m going to announce in the next few days that I’m going to offer everyone in the Kings organization, they can get paid as much of their salary in bitcoin as they want, including the players.”

The National Football League has also its cryptocurrency supporters. In late June, the legendary quarterback – Tom Brady – together with his wife – Gisele Bundchen – took an equity stake in FTX as part of a long-term partnership. The couple will be receiving some virtual assets payments as a result.

In his turn, the rising star of American football – Saquon Barkley – highlighted Bitcoin as the right choice for a store of value, especially when inflation starts to shake the economy. He pledged to keep all of his endorsement money in Bitcoin.

Featured Image Courtesy of TheSportsRush

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Ethereum

Arthur Hayes Says Cardano Is A ‘Shitcoin’ – Here’s Why

Cardano (ADA) is a “shitcoin” without purpose that has no distinct advantage over competitors, according to BitMEX co-founder Arthur Hayes.

“Who gives a fuck? Zero?” said Hayes when asked “What about Cardano?” in an interview with Coin Bureau published on Sunday.

Cardano Is A Shitcoin, Says Hayes

Continuing to describe the cryptocurrency – a top ten digital asset by market cap – Hayes did not mince words: “The first wannabe Ethereum, and probably the first one to go to be irrelevant,” he said.

Typically, the popular crypto essayist and trader is well known as one of the loudest long-term Bitcoin (BTC) and Ethereum (ETH) bulls, and often expresses interest in small-cap cryptos for short-term trading.

During the same interview, Hayes even expressed interest in the memecoin “dogwifhat” calling it the “best dog money of this bull cycle.

“I love Rare Pepe’s… I think we’re going to see a resurgence of NFT trading volumes,” he added.

The writer’s unique callout of Cardano ruffled some feathers online – especially with the network’s founder, Charles Hoskinson. On Tuesday, Hoskinson asked Hayes why he was “throwing shade” at Cardano.

“Cause your coin is a piece of shit man,” Hayes replied. “Just buy some ETH and chill.”

What Makes Cardano Unique?

Much like Ethereum, Cardano is a smart contract platform for developing decentralized applications. It also popularized as one of the first well-developed proof-of-stake cryptocurrencies, which use crypto rather than energy to secure its network.

However, many popular blockchains today now use the same mechanism, with Ethereum undergoing a massive upgrade in 2022 to adopt proof of stake. In terms of both market size and DeFi TVL, Cardano is still outsized by competitors like Ethereum, Solana, and Binance Smart Chain (BSC).

On Tuesday, Hayes published a list of the world’s most popular Dapps, and asked which of them had originated or grown most popular on the Cardano blockchain.

“From my very limited knowledge, it looks like none of them do,” he said. “That’s why ADA is dog shit.”

On Bitcoin, however, Hayes remains a bull, expecting strong money printing from the Federal Reserve to drive the asset’s price up soon.

“When printing money happens and you debase the value of time and human labor, we rejoice and say great, fuck you, we’re gonna take Bitcoin to a million,” he told Coin Bureau.

Late last year, Hayes predicted that Bitcoin would reach between $750,000 and $1 million by the end of 2026.

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