Soccer star Tom Brady, recently revealed to be a bitcoin bull, admitted that prices have fallen since he publicly announced his support for the cryptocurrency.
The seven-time Super Bowl champion changed his Twitter profile photo to "laser eyes" in early May, which many Bitcoin enthusiasts are doing to show their "laser focus" to drive prices up. Bitcoin's price fell nearly 40% to $ 34,665 on Monday, from $ 56,245 on the day Brady changed his avatar, according to Coin Metrics.
"Okay, the laser eyes didn't work. Anyone have an idea?" Brady said in a Twitter post on Monday.
Bitcoin has seen wild volatility amid tightened regulatory scrutiny after a solid start to the year that propelled its price to an all-time high of nearly $ 65,000 in April. The digital coin has wiped out almost all of its triple-digit gains and has flattened out over the year.
Charles Krupa | AP
In late May, Brady said he was a "big fan" of cryptocurrencies and confirmed that he had bought digital coins.
"I don't think it's going anywhere," Brady said on the CoinDesk Consensus 2021 forum. "I am still learning so much. It is definitely something I will be part of for a long time."
China has stepped up its efforts to stamp out crypto speculation, ordered digital currency miners to cease operations in a number of regions, and urged banks and payment companies not to offer crypto-related services.
In the meantime, the Binance cryptocurrency exchange has been banned from operating in the UK by the country's market regulator.
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