According to Decrypt, former Carolina Panthers player Russell Okung made headlines in December 2020 when he decided to receive half of his $13 million salary in Bitcoin, amounting to approximately $6.5 million. At that time, Bitcoin was valued at around $27,000. Fast forward to the present, and the cryptocurrency's value has surged to $87,803, potentially increasing Okung's Bitcoin holdings to over $20.9 million.
In May 2021, despite a decline in Bitcoin's value, Okung expressed unwavering confidence in his investment, stating on Twitter that he had no intention of selling his Bitcoin. Since then, he has not publicly disclosed any changes to his investment strategy. Decrypt has reached out to Okung for comments on his current stance.
Okung's decision to invest in Bitcoin was driven by his belief in the power of money beyond its role as currency. He viewed Bitcoin as a means to opt out of what he described as a corrupt and manipulated economy. In 2021, he defended Bitcoin against criticisms from Tesla CEO Elon Musk, who had raised concerns about the cryptocurrency's environmental impact. Okung launched the "Stick to Space, Elon" campaign, emphasizing Bitcoin's potential to provide freedom and asserting that no individual could pose a significant threat to its long-term value.
Having retired from football in June 2023, Okung's investment in Bitcoin could potentially make him one of the most successful ex-athlete investors if he continues to hold onto his cryptocurrency assets. His commitment to Bitcoin reflects a broader trend among athletes and celebrities exploring alternative financial strategies and investments.
