Sherman is famous for taking a hands-on approach to his finances, even going as far as negotiating his own three-year contract with the 49ers in 2018 (as opposed to relying on an agent), which made him the NFL's highest-paid cornerback at the time. Sherman is also an active investor who has said in interviews that he's invested in municipal bonds and mutual funds, and who also has a keen interest in cryptocurrency.
Sherman has invested in cryptocurrencies such as bitcoin, litecoin and ethereum, and he's also a spokesperson for the exchange platform Cobinhood, and an investor in the company's coin, COB.
Though he once had to stop his grandma from buying bitcoin when it was up around $19,000, Sherman says he's been "very active in the past year," even as the price of a popular cryptocurrency like Bitcoin has dipped from highs near $20,000 per unit in December 2017 to its current price around $3,400.
"Fortunately I was able to remove some of my money prior to the market falling as a whole," says Sherman, who adds that he expects the price of Bitcoin and other cryptocurrencies to rise again in the future. "This is definitely a long term play for me," he says.
Still, when it comes to players just beginning their careers, Sherman says NFL rookies should try to live within their means, because you never know how long a career might last, or how much money they will eventually make.
"My one piece of advice ... is to understand that not much is guaranteed financially in this league," Sherman tells CNBC Make It. "It is crucial that you budget and save so that you can provide wealth for you and your family for the future."
CORRECTION: This article has been corrected to show that Sherman negotiated his own contract with the 49ers, not the Seahawks.
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