When NFL star Odell Beckham Jr. determined to make a daring assertion about his monetary future in 2021, he didn’t simply catch passes — he caught Bitcoin fever.
Partnering with Sq. CashApp, OBJ proudly introduced he’d take his total $4.25 million Los Angeles Rams wage for the 2021-2022 season in Bitcoin (BTC).
Skeptics scoffed. Bitcoin was buying and selling at a decent $57,400 in November 2021, and the transfer appeared like a moonshot. However for Beckham Jr., it was a “new period.” See under.
It is a NEW ERA & to kick that off I am hyped to announce that I am taking my new wage in bitcoin because of @CashApp. To ALL MY FANS on the market, irrespective of the place u r: THANK YOU! I’m giving again a complete of $1M in BTC rn too. Drop your $cashtag w. #OBJBTC & observe @CashApp NOW pic.twitter.com/ds1IgZ1zup
— Odell Beckham Jr (@obj) November 22, 2021
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To have fun each his new crypto-friendly paycheck and his transfer to the Rams, he promised to provide away $1 million in Bitcoin to followers through X (previously generally known as Twitter).
Cue the avalanche of “thanks” tweets from followers thrilled by their newfound digital riches.
Quick-forward to earlier this month: Beckham Jr. made clear he was comfortable together with his determination.
🥱 😌 🚀 pic.twitter.com/IC8PHVzldt
— Odell Beckham Jr (@obj) December 5, 2024
Beckham Jr. wasn’t alone on this cryptocurrency craze. He’s only one athlete on a rising roster of NFL gamers eager on swapping bucks for so-called digital gold.
Russell Okung
Earlier than Beckham Jr. was Russell Okung. The offensive deal with acquired warmth in 2020 with the Carolina Panthers by changing half his $13 million wage into Bitcoin.
Okung’s announcement, “Paid in Bitcoin,” went viral, positioning him because the NFL’s crypto pioneer. Little did he know he’d encourage a tidal wave of blockchain enthusiasm amongst his gridiron friends.
NFL executives and monetary advisors — even his mom — reportedly tried to dam Okung from taking the crypto plunge. However his insistence paid off.
At this time, he is without doubt one of the founders of Bitball, a sports activities league enterprise that pays taking part athletes in crypto.
once I mentioned ‘pay me in Bitcoin’, it was only the start
saying: @playBITBALL. 12.10.24, Al Nahyan Stadium, Abu Dhabi@bitcoinmenaconf ticket holders attend free pic.twitter.com/9jVjnPgOgy
— OKUNG 🐆 (@RussellOkung) November 14, 2024
Sean Culkin
In 2021, Sean Culkin — a good finish with the Los Angeles Chargers and Baltimore Ravens — turned the primary NFL participant to transform his total NFL wage into Bitcoin upon becoming a member of the Kansas Metropolis Chiefs.
“I absolutely consider Bitcoin is the way forward for finance and I needed to show that I’ve actual pores and skin within the sport,” Culkin mentioned in April 2021.
He was “not simply attempting to make a fast buck,” he added.
In March, he tweeted a shoutout to fellow crypto-bull Okung.
Right here’s to the loopy ones @RussellOkung pic.twitter.com/u4Pr687SsW
— Sean Culkin (@culkin22) March 4, 2024
Trevor Lawrence
The previous No. 1 draft choose signed with Blockfolio, a cryptocurrency portfolio monitoring app, in 2021.
Lawrence, a quarterback for the Jacksonville Jaguars, was rumored to have had his signing bonus paid completely in cryptocurrency.
Nonetheless, opposite to studies, that bonus was separate from his $24 million NFL deal. Misreporting led some to take a position that Lawrence misplaced $15 million because of the subsequent crypto market crash. Recall how the cryptocurrency market’s capitalization declined from $2.9 trillion in November 2021 to $798 billion on the finish of 2022.
In actuality, Lawrence’s NFL earnings remained untouched by the blockchain drama on the time.
Aaron Rodgers, Saquon Barkley and Demario Davis
Earlier than he was quarterback for the New York Jets, Aaron Rodgers partnered with Money App in late 2021, selecting to obtain a part of his NFL wage in Bitcoin.
That 12 months, Saquon Barkley, the New York Giants working again, introduced he’d convert all his off-field earnings into Bitcoin, citing the significance of long-term wealth preservation.
An honorable point out goes to Demario Davis — a linebacker with the New Orleans Saints — who reportedly declared thatfiat foreign money is “inherently unfair and corrupted.”
In the end, he didn’t settle for his NFL contract in Bitcoin. However in April this 12 months, Davis expressed curiosity, calling it “the way forward for cash.”
See under.
Grateful to @lipscomb and @BitcoinMagazine for having me come discuss all issues Bitcoin. Study why Bitcoin is the way forward for cash. pic.twitter.com/GdwKNJObTU
— Demario Davis (@demario__davis) April 16, 2024
Crypto’s finish zone: Fumbling or scoring large?
Whereas these NFL stars made headlines for his or her Bitcoin paydays, the timing wasn’t precisely clutch.
Bitcoin is having fun with all-time highs now, however recall its sharp nosedive after November 2021. After hitting a then-peak of practically $69,000, rising rates of interest, market over-speculation, and high-profile crypto crises like TerraUSD’s collapse and FTX’s chapter contributed to its downfall.
By mid-2022, Bitcoin’s worth had fallen under $20,000, highlighting the dangers of unstable investments, particularly for these like NFL stars embracing crypto salaries.
Learn extra: “Who’s laughing now?”: Eric Adams defends Bitcoin paychecks
