After a career record score of $74,227 at WPT500 that finished on Tuesday, Jaime Staples turned to twitter about investing a large portion of his winnings towards stocks and cryptocurrencies.
In the twitter post partypoker ambassador wrote that he’s investing $40.000 in stock market and $20.000 in crypto, of which 90% is Bitcoin and rest is FTX and Ethereum. Stocks are mostly ETFs like S&P500, MSCI Europe, EAFE, Global Real Estate Index and some individual stocks like Apple, Facebook, Microsoft, Netflix and more.
I am putting 40K of the 74K I won in the WPT500 into the stock market. (20k crypto, rest back into bankroll.)— Jaime Staples (@jaimestaples) June 4, 2021
Rate my current Stonks distribution. I haven't invested in anything new yet. Looking for opinions on what I got now. What would you change? How boomer? pic.twitter.com/vryUMJkHjG
As you could expect from poker twitter, opinions were polarized as always. From putting everything in crypto, to everything in S&P500, to leaving all in cash, and of course how can we not mention GME, AMC and DOGE.
We here at PokerPro are not financial advisors by any means, so we won’t comment on his actual investment. What we do want to point out how great it is that poker players are investing their winnings and taking care of their future "after poker", something that wasn’t the case only a decade ago.
There was so much money in poker during the boom and no one really thought that something can stop that runaway train. All you needed is a bit of cash for your bankroll, some money stashed away for living expenses and you were good to go.
Of course, the times are different now and a new generation of poker players are aware of that. It’s great that a pro like Jaime is sharing these with his followers and starting debates as those leads to better financial literacy.