Cryptocurrencies are being preferred to fiat currencies for the simple reason that the value of the wealth is not eroded with time and the crypto asset is as good as gold. Therefore, more and more people are turning to crypto to bolster and maintain their wealth. The latest to join this illustrious list of people who have turned to crypto are NFL players reports the cointelegraph.com
NFL players chose crypto over traditional fiat currencies
At least five NFL players have chosen crypto over traditional fiat currencies. Unfortunately, the Corona pandemic has severely affected the NFL season. Still, things are looking better now with the crowds returning and stadium parking again filled with the enthusiastic anticipation of tailgaters and their barbeque amity.
Again, it was an excellent year for Bitcoin (BTC) investors as the numero uno crypto is breaching the psychological mark of $50,000.
Five NFL players are being paid in whole or in part in cryptocurrencies. The NFL players throwing their weight behind the Crypto assets have also increased the value of cryptocurrencies, especially Bitcoin (BTC)
NFL players increased the value of cryptocurrencies, especially Bitcoin (BTC)
Earning roughly $22.3 million this year, the reigning 2020 NFL most valued player has announced his intention to accept a portion of his salary in Bitcoin. It was revealed in a Nov. 1 video post on Twitter that he will be shaking hands Cash App payment service. In addition, he also announced his intention to donate $1 million in Bitcoin.
Tom Brady is another high-profile NFL star who plays at the quarterback position and has dabbled with cryptocurrency in 2021. Though he has not revealed if he is being paid in BTC by NFL, he will be paid in crypto by FTX courtesy of his equity stake in Sam Bankman-Fried’s exchange and will serve as a brand ambassador. The NFL star has also launched his Non-Fungible Platform christened Autograph. It aims to draw new talent in sports, entertainment, fashion, and pop culture.
Odell Beckham Jr.
Odell Beckham Jr. (OBJ) is reported to receive about $4.25 million from the NFL this season, and it will be paid in BTC via Cash App. In addition, he will give back $1 million in BTC due to his new partnership with Cash App.
He has joined an ever-growing list of NFL players who are open to receiving their payments in cryptocurrencies. Lawrence’s deal, however, is not with the NFL directly. Instead, the 2021 NFL top draft pick’s crypto salary comes from an endorsement deal with the crypto portfolio app FTX (formerly Blockfolio). It is not clear how much BTC he owns but his crypto assets value will undoubtedly rise.
The New York Giants Saquon Barkley superstar has revealed in July that he will be converting all his endorsement earnings into BTC. However, he is not being paid in crypto coins but is converting his savings into BTC. He is buying BTC using Strike and is not the only player. He joins NFL offensive lineman Russel Okung became the first player to publicly share that he was using Strike to convert his NFL salary to BTC.