Eyeing the development of cryptocurrency as early as 2013
Although "Iron Mike" Tyson, who once dominated the boxing world, lost to the Internet celebrity boxer Jack who is 30 years younger than him in last Saturday's match. Jake Paul, but what is less known is that the 58-year-old former heavyweight boxing champion has actually been a pioneer investor in the cryptocurrency industry. Tyson, who served as the heavyweight boxing champion from 1986 to 1990, not only achieved a brilliant record in the field of boxing, but also had a very precise investment vision in the field of cryptocurrency.
Tyson’s investment vision for Bitcoin can be traced back to 2013, when he invested in the crypto payment company BitPay. In an era when Bitcoin was not yet widely known, the boxing champion nicknamed "Iron Mike" had already invested in the development of related technologies. According to a video by YouTube star Marco Costanza, Tyson partnered with Bitcoin Direct LLC in 2015 to set up a Bitcoin ATM in Las Vegas. These ATMs allow people to purchase Bitcoin with cash, making an important contribution to the popularization of cryptocurrency and demonstrating Tyson's forward-looking vision of emerging technologies.
Source: Brave News Coin Tyson partnered with Bitcoin Direct LLC in 2015 to set up a Bitcoin ATM in Las Vegas
Investment returns are considerable and we continue to embrace new technologies
Tyson first bought Bitcoin in 2015, when the price was only between $150 and $500. The investment was perfectly timed, coinciding with the surge from 2016 to 2017, when the price of Bitcoin reached an all-time high of $20,000. Although Tyson has never publicly disclosed the number of Bitcoins he holds, and it is unclear whether he still holds these digital assets, judging from the historical price trend of Bitcoin, the return on this investment is considerable.
In recent years, Tyson has continued to participate in various cryptocurrency projects. In April 2024, he served as the brand ambassador of the blockchain boxing project Ready to Fight (RTF), bringing more fighting fans to the platform. This project aims to revolutionize the boxing world through blockchain technology. Tyson’s participation will undoubtedly add great exposure and popularity to the project. In 2021, he also followed the NFT craze and launched his personal NFT "The Mike Tyson NFT Collection" to actively expand his influence in the field of Web3 collectibles.
Source: Ready to Fight Boxing champion Tyson serves as the brand ambassador of the blockchain boxing project Ready to Fight (RTF)
In addition, Tyson has publicly stated his support for the Solana blockchain many times, and even launched a poll on social media in 2021 to ask fans whether they prefer Ethereum or Solana. These actions show his continued concern for the development of blockchain technology. and participation.
Source: X boxing champion Tyson asked netizens on X whether to choose Ethereum or Solana
Latest event sparks cryptocurrency speculation boom
The fight between Tyson and Paul not only attracted the attention of sports fans, but also caused waves in the cryptocurrency market. The game, played at AT&T Stadium in Arlington, Texas, attracted more than $60 million in bets on the prediction market platform Polymarket. It is worth noting that even though Paul is the favorite to win, the amount of betting on Tyson is as high as $32 million, far more than the $15.9 million on Paul.
Image source: Polymarket Polymarket opened bets on the boxing match, with more than $60 million in bets
The contrast may stem from Tyson's lower odds, offering a higher potential profit margin. Another possible reason is that many cryptocurrency enthusiasts took note of the 58-year-old boxing champion’s continued focus on Bitcoin and placed bets on an emotional basis. Although he lost this game to a young opponent, Tyson still received an appearance fee of US$20 million, plus advertising sponsorship income, showing that his commercial value is still strong.
Even though Tyson lost this game, he is still a legend in the boxing world and also has a place in the Bitcoin world. His early investment and continued involvement in the cryptocurrency industry have proven that he is not only a boxing superstar, but also an entrepreneur with forward-looking investment vision.
"Boxing champion Tyson lost to internet celebrity Paul!" But the investment was not lost? He is actually a super senior currency speculator? 』This article was first published in "CryptoCity"
