It’s the same reason why most people are not investing in crypto-- they don’t understand how it works. Shaq admittedly say he doesn’t understand crypto and that’s why he’s not putting money into it. He said he’s not knocking other athletes like Steph Curry and Tom Brady who ae famously bullish on crypto, but also said he’s staying away from crypto until he has full understanding of it.
O’Neal also noted that he’s wary of all the overnight success stories he’s seen surrounding digital currencies. “Every time somebody tells me one of those great stories, I like it. But from my experience, it is too good to be true,” he says.
In July, O’Neal told Front Office Sports that he’s often approached by crypto companies for potential partnerships and promotional work: “I always get these companies that say, ‘Hey, we’ll give you $900,000 in crypto to send out a tweet.’ So I have to say, ‘OK, if you’re going to give me a million dollars worth of crypto, then why do you need me?’”
The 15-time All-Star also said a couple of his friends “got caught up in a little scam like that one time,” turning him off of the concept.