NFL players like Spencer Shrader, Odell Beckham Jr., and Saquon Barkley are opting to receive parts of their salaries in Bitcoin.
Athletes cite the desire to create generational wealth and hedge against career risks as motivations for choosing cryptocurrency.
The trend highlights a growing acceptance and integration of cryptocurrency in professional sports.
Indianapolis Colts’ kicker, Spencer Shrader, has made headlines by announcing his decision to take his entire signing bonus in Bitcoin. Shrader, who recently signed a 3-year, $2,850,000 contract with the Colts, will receive a signing bonus of $20,000, alongside a guaranteed sum of $20,000.
His average annual salary is set at $950,000, with a base salary of $795,000 for the 2024 season. Shrader’s move to opt for Bitcoin comes amidst a growing trend among NFL players to receive portions of their salaries in cryptocurrency.https://x.com/SimplyBitcoinTV/status/1797758249703465329
Shrader is not the only NFL player to show interest in Bitcoin. Odell Beckham Jr. (OBJ) announced in 2021 on X that he would be partnering with Cash App to take his next NFL salary in Bitcoin. Beckham was expected to earn a $750,000 base salary, a $500,000 signing bonus, and $3 million in other incentives, totaling $4.25 million for the 2021 season.
It's a NEW ERA & to kick that off I'm hyped to announce that I'm taking my new salary in bitcoin thanks to @CashApp. To ALL MY FANS out there, no matter where u r: THANK YOU! I’m giving back a total of $1M in BTC rn too. Drop your $cashtag w. #OBJBTC & follow @CashApp NOW pic.twitter.com/ds1IgZ1zup
— Odell Beckham Jr (@obj) November 22, 2021
Saquon Barkley, the star running back for the New York Giants, also made waves when he revealed his decision to convert all of his endorsement pay into BTC. Like many others, Barkley is not being paid directly in crypto; instead, he is swapping some of his cash earnings for Bitcoin using the Strike payment app. Barkley’s decision was motivated by the desire to create generational wealth, considering the short careers and injury risks in professional football.
Speaking to Anthony Pompliano in July 2021 he said, “When you see the KD’s, the Lebrons and Bradys of the world and you want to create generational wealth, you can’t do that with the sport that I play and the position that I play and coming off of injuries. When you sit out of football for a whole year, you realize that this game could be taken away from you”.
Former NFL offensive lineman Russel Okung was one of the first players to publicly announce that he was using Strike to convert his NFL salary to Bitcoin. Other players who have shown interest in cryptocurrency include Sean Culkin, Aaron Jones, Aaron Rodgers, Tom Brady, and Trevor Lawrence.
It is clear that Bitcoin and cryptocurrency are gaining popularity among NFL players, with more and more athletes choosing to explore this new form of payment and investment. It will be fascinating to observe the evolving relationship between professional sports and the digital asset market, potentially reshaping how athletes manage and grow their wealth in the future.
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