NFL star Odell Beckham Jr. announced in late 2021 he would convert his $750,000 salary into bitcoin. The salary would now be worth about $185,250 – based on Wednesday’s bitcoin prices, and assuming that he converted a lump sum when the deal was made.
As cryptocurrency gained more popularity in recent years, several athletes got into the digital assets space by accepting some of their salary or endorsement income in crypto. And many of those crypto holdings are likely to be worth much less than when the athletes originally got involved.
The Action Network reported that the deal was executed when a bitcoin cost $64,158. As of Wednesday afternoon, bitcoin prices were hovering just above $16,000, a 75% decline from the time of Beckham’s deal. Because it is not known if Beckham moved the $750,000 sum all at once into bitcoin or spread it over multiple purchases, it’s difficult to pinpoint an exact dollar figure for Beckham’s losses. What can be reliably determined, though, is that as of now Beckham would have been better off accepting his salary in U.S. dollars.
It’s not clear how much FTX equity Brady received in 2021, or which cryptocurrencies he received. FTX filed for bankruptcy in November after suffering from severe liquidity issues. Saquon Barkley The star New York Giants running back said in July 2021 that he would be accepting all future marketing and endorsement deals he signs in bitcoin.
Trevor Lawrence Jacksonville Jaguars quarterback and former No.1 overall pick in the NFL draft Trevor Lawrence signed an endorsement deal with crypto app Blockfolio back in April 2021. FTX is the parent company to Blockfolio, and later rebranded the Blockfolio app to the FTX app.
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