Tom Brady, a football star, recently declared himself a bitcoin bull and acknowledged that the prices have fallen since he publicly supported cryptocurrency.
In May, the seven-time Super Bowl champion changed his profile photo on Twitter to include “laser eyes,” which is what many bitcoin enthusiasts use to display their “laser focus” to drive prices higher. According to Coin Metrics, Bitcoin’s price fell nearly 40% to $34,665 Monday, from $56,245 the day Brady altered his avatar.
“Alright, the laser eyes didn’t work. Anybody have any suggestions? Brady posted on Twitter Monday.
After a strong start to 2018, Bitcoin’s price hit an all-time high at nearly $65,000 in April. This was despite regulatory scrutiny. The gains of the digital coin have been almost erased and it has fallen flat for the year.
Brady stated that he was a big believer in cryptocurrency at the end May. This confirmed that he had purchased digital coins.
Brady stated that he doesn’t believe it’s going anywhere at the CoinDesk Consensus 2021 forum. “I still learn so much. It’s something I will be doing for a very long time.
China has intensified efforts to end crypto speculation by ordering digital currency miners in several regions to stop operations and asking banks and payment companies not to offer any crypto-related services.
The U.K.’s regulator of markets has banned Binance, a cryptocurrency exchange, from operating in the United Kingdom.