At only 22 years old, Tyler Adkinson has retired from his professional baseball career playing for the L.A. Dodgers minor league system, and taken the entrepreneurial leap. He is now the CEO of BlockTerra Capital LLC. The new field he chose makes it sound like a leap of faith, but there are significant business-minded motives at work.
It was a sort of “perfect storm” for Tyler over the past year that brought about this radical change, but it started with his passions as a teenager and his university education.
Although he had the talent and work ethic to be drafted out of high school to play professional baseball, Tyler had always been obsessed with technology:
“Technology has fascinated me as long as I could imagine. I was waiting in line for the release of the first iPad. I was in middle school. I sold candy to pay for it. I feel like cryptocurrency is the pinnacle of technological advancement.” (https://www.ocregister.com/2018/04/04/meet-the-dodgers-minor-leaguer-who-retired-to-run-a-cryptocurrency-hedge-fund/)
While in college, he studied business and always had interest in investments and assets. Wealth management issues have plagued headlines for professional athletes over the years. As an insider, Tyler has a level of trust from his clientele that the average hedge fund manager would never have.
In the minors, injury gave Tyler the down time to think and talk over his future with coaches and players. Changes in contract laws for minor league players added fuel to the fire.
He played through a bone spur over the summer of 2017. While recovering he turned his focus toward establishing his business. His first client was Red Sox pitcher Joe Kelly. He now has 30 total, but this number is likely to grow, as his full-time commitment is still fresh.
On March 23, 2018 new laws through the Consolidated Appropriations Act forced Tyler to make a choice. Prior to this, Minor-league players were entitled to a 40-hour workweek of pay regardless of how much time they actually committed to baseball. (http://docs.house.gov/billsthisweek/20180319/BILLS-115SAHR1625-RCP115-66.pdf)
Tyler chose to pursue the potential of cryptocurrencies and to represent a new generation: “The developers are all millennials or younger generations. They’re all tech-savvy. The people creating and driving this space are us.”
By: BGN Editorial Staff