Every professional athlete loves a good investment, especially NFL players. Why? Well, first of all, football is a dangerous sport and in order to be on the highest level, you need to be in your prime.
Secondly, injuries happen quite a lot, and these injuries can put athletes on the bench for years, and for some, these injuries mean an end to their careers. So, yes, they might be earning a lot of money through salary, but it doesn’t last long.
In fact, the average career in the NFL is around 3.3 years, which pushes athletes to invest in something that will continue to provide a stable income after their professional career is over.
One of the things is Bitcoin. With large financial institutions such as Blackrock and a new pro-crypto government in the US, investing in this ‘speculative’ asset has become the new normal.
Plus cryptocurrencies are entering the world of sports, and we’ve already seen crypto sports betting, and the next thing is to witness the transformation of the leagues on the Blockchain.
That’s why we are seeing stars like Odell Beckham Jr. (OBJ) with some bold moves of converting his NFL salary into Bitcoin. So, what’s the deal with all the athletes now investing in Bitcoin?
Let’s find out.
OBJ’s Big Bitcoin Move
We have to hand it to OBJ just because he made a bold move that brought him millions of dollars. How?
Well, he was one of the first athletes in the NFL who publicly showed interest in crypto, and he announced that he would take his entire $750,000 salary from the Los Angeles Rams and convert it to Bitcoin.
Yes, quite a bold move, especially in 2021, when things started to go down, and all of a sudden everyone lost interest in Bitcoin.
He did this by partnering with Cash App, making him one of the highest-profile athletes to publicly embrace crypto compensation. At that time Bitcoin was worth around $60,000. Sounds great, right?
Well, here’s the plot twist: Bitcoin’s price crashed shortly after, sinking to around $16,000 by the end of 2022. That means OBJ’s initial $750,000 payout shrank to roughly $240,000 before taxes.
And speaking of taxes, let’s not forget that the IRS still considered his full $750,000 as taxable income, leaving him with even less after Uncle Sam took his cut.
But in 2024, Bitcoin has made a massive comeback, soaring past $100,000, which means that this investment was proven right.
Is OBJ Alone in the Crypto Game?
This move, and a couple of others inspired other NFL athletes to do the same. There are many people that transitioned to cryptocurrencies.
First, we have Russell Okung, who has converted half of his $13 million salary into Bitcoin, and he made millions with his move. We all remember his famous post on X “Pay me in Bitcoin”!
Next, we have Aaron Rodgers, who didn’t specifically say that he is transferring his salary into Bitcoin, but he said that he will receive part of his salary into a digital coin after he partnered
with Cash App.
Trevor Lawrence also received his entire signing bonus in cryptocurrencies, not just Bitcoin but also Ethereum and Solana.
OBJ might have grabbed the headlines, but he’s far from the only NFL player to jump into the crypto waters.
A growing number of athletes are seeing digital currencies as a legitimate way to build wealth and financial independence. Here are a few notable names:
Lastly, Saquon Barkley – The New York Giants running back has made the same move of converting his salary into Bitcoin. He’s converting all his endorsement money (we’re talking millions) into Bitcoin, aiming to create “generational wealth.”
Clearly, OBJ is in good company. The trend of NFL players exploring crypto is no longer a curiosity – it’s becoming mainstream.
This suggests that more athletes will follow their path, especially after seeing their success stories.
Why Are NFL Players So Into Bitcoin?
Well, we’ve seen their gains, and people who understand how this technology works know the benefits that come from it. Athletes use Bitcoin or other cryptocurrencies to bring their financial freedom since Bitcoin operates outside traditional banking systems.
On top of that, it is a good protection against inflation, especially in a bull market where Bitcoin is breaking all-time highs every week.
But it is a high-risk, high-reward asset and we must consider the volatility. But players that have a long-term vision, are investing in Bitcoin thinking that it will be worth a lot more money in the future.
Is This Trend Here to Stay?
The big question: will more NFL players continue to adopt Bitcoin? All signs point to yes. As crypto becomes more mainstream, younger players, who’ve grown up in a digital world, are more open to embracing it.
Plus, with companies like Cash App and Blockfolio making it easier than ever to get paid in Bitcoin, the barriers to entry are lower.
So, we expect this trend to grow in the future as athletes are seeking financial freedom and they like to have their money on a decentralized network rather than a bank
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Every professional athlete loves a good investment, especially NFL players. Why? Well, first of all, football is a dangerous sport and in order to be on the highest level, you need to be in your prime.Secondly, injuries happen quite a lot, and these injuries can put athletes on the bench for years,of money through something that will continue to provide a stable income after their professional career is over.One of the things is Bitcoin. With large financial institutions such as Blackrock and a new pro-crypto government in the US, investing in this ‘speculative’ asset has become the new normal.Plus cryptocurrencies are entering the world of sports, and we’ve already seen crypto sports betting, and the next thing is to witness the transformation of the leagues on the Blockchain.
