Shaq's Crypto Bet: The One Trump Coin He Bought In 2021
Wednesday, Mar 5, 2025 11:24 am ET
1min read Shaquille O'Neal, the NBA legend turned business mogul, has been vocal about his skepticism towards cryptocurrency. However, evidence suggests that he dipped his toes into the market in 2021, purchasing Ethereum (ETH/USD) to acquire NFTs. While he hasn't directly invested in Bitcoin BTC/USD or XRP XRP/USD, his Ethereum acquisition aligns with his transactional use of cryptocurrency rather than long-term investment beliefs. O'Neal's involvement in promoting Astrals NFTs and FTX, which led to a class-action lawsuit, highlights his cautious approach to the crypto market.
O'Neal's investment in Ethereum was purpose-driven, as he spent approximately 6.5 ETH, valued at around $20,000 at the time, on two NFTs: Creature #9018 for 5 ETH and Creature #9299 for 1.55 ETH. He updated his X profile picture to Creature #9018, signaling ownership and aligning with his wallet activity under the pseudonym "manofdominance" on OpenSea. Despite his stated caution about the crypto market, O'Neal's NFT purchases contrast with his previously expressed skepticism.
As of March 6, 2025, the value of Ethereum (ETH) is $2178.07. To calculate the current value of O'Neal's investment, we can use the following formula:
Current Value = Number of ETH Purchased × Current Price of ETH
Current Value = 6.5 ETH × $2178.07/ETH
Current Value = $14,231.445
O'Neal's investment has decreased in value since his purchase in 2021. The initial value of his investment was around $20,000, and the current value is approximately $14,231.445. This represents a decrease of approximately $5,768.555, or around 28.84% of the initial investment value.
O'Neal's investment in Ethereum for NFTs showcases his willingness to explore the crypto market, despite his previously stated skepticism. His involvement in promoting Astrals NFTs and FTX, along with his legal fallout, underscores the risks associated with his crypto affiliations. While his investment in Ethereum has decreased in value, his transactional use of cryptocurrency highlights his cautious approach to the market.
In conclusion, Shaquille O'Neal's investment in Ethereum for NFTs in 2021 demonstrates his willingness to explore the crypto market, despite his previously stated skepticism. His involvement in promoting Astrals NFTs and FTX, along with his legal fallout, highlights the risks associated with his crypto affiliations. While his investment in Ethereum has decreased in value, his transactional use of cryptocurrency showcases his cautious approach to the market.
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