NBA Player Tweets “BTC”
Another day and another example of Bitcoin and cryptocurrency moving into the mainstream.
“Brooklyn Nets guard Spencer Dinwiddie is ready to play ball with the digital economy. He’s going all in on tokenization. The NBA player is planning to start a company that will turn his $34.36 million, three-year contract into a digital investment vehicle.
According to The Athletic, several sources say that Dinwiddie plans to convert his contract into a digital token and then use it as collateral to raise capital.
“In a securitization, the borrower gives up some future income in return for a smaller lump sum payment. But the borrower, in this case Dinwiddie, then has more money to immediately invest than he otherwise would.
A token is a digital currency term. The bond exists in the digital currency world. Instead of buying the bond from a broker, it is through a token.
According to sources, this Dinwiddie bond would pay investors principal back and interest, which would be covered by what the Nets owe him.”
Dinwiddie also put a pro spin on crypto by tweeting “btc” to his followers on Thursday, prompting a colorful response from leading cryptocurrency exchange Binance.”