NFL Player Salary Paid in Bitcoin

[TheGreatPython]

Found this interesting:

The Carolina Panthers will pay half of Russell Okung's $13 million contract for 2020 in Bitcoin, according to NFL Network's Ian Rapoport. The two-time Pro Bowler signaled his desire in May 2019 to be compensated in the form of the popular cryptocurrency and confirmed he got his wish...

Source: https://bleacherreport.com/articles/2924583-russell-okung-to-be-1st-nfl-player-paid-in-bitcoin-65m-of-panthers-salary

After reviewing some of Okung's tweets, he appears to be quite the bitcoin bull, and backing it up by requesting half his 2020 salary in bitcoin.

This has been a semi thing for years now. Spencer Dinwiddle NBA player bought bitcoin with all his contract as well, this is why I say it was a semi thing because he wasn't paid in bitcoins, but he was paid and then bought bitcoins with it. This obviously became a bigger deal because the payment was made in bitcoin as well so it became a bigger deal.

We are in a world where grayscale spent like over a billion dollars on bitcoin, so I am not really in that much shock that some 13 million were paid in bitcoin, that is of course something that helps bitcoin adoption in the long run, because it is a news about some athlete getting paid in bitcoin which is a mainstream news. However in a year where we got 1+ billion invested by big banks, some 13 million is not really that much news worthy if you ask me, especially considering it is not even full, half of his salary.

[fahmimajannat]

It's quite interesting. I don’t know if it is true or not. But if this is true it is very good for the world. If people starts to use crypto currencies like btc eth it will much easier for them. Though there is some issues to be solved but hope it will be solved in near future. It will be the third chapter of human history of transaction after Barter system and paper currency system

[iv4n]

It's quite interesting. I don’t know if it is true or not. But if this is true it is very good for the world. If people starts to use crypto currencies like btc eth it will much easier for them. Though there is some issues to be solved but hope it will be solved in near future. It will be the third chapter of human history of transaction after Barter system and paper currency system

Why wouldn't be true!? It's good for all of us, it's good for crypto adoption! When popular individuals do something you can see that everywhere, and this is exactly the marketing that we all need!
I will just remind others about the news from a month or two ago, when a very popular site said they are buying over $100 million to pay their winners, more than 60% of winners wants their prizes to be in BTC, and numbers are rising!
All in all great things for Bitcoin, and the entire crypto community! We are going forward!

[Vaskiy]

Nothing to discuss much, NFL player have signed an agreement to get paid in bitcoin. Rather than the news about bitcoin as an accepted means, looking upon the salary I got astonished. Maybe more other players can take the same step forward looking over the growth of bitcoin happening. They doesn't need to think of investment and all, get paid as a form of investment as the growth happens for sure.

[kpierce77]

Nothing to discuss much, NFL player have signed an agreement to get paid in bitcoin. Rather than the news about bitcoin as an accepted means, looking upon the salary I got astonished. Maybe more other players can take the same step forward looking over the growth of bitcoin happening. They doesn't need to think of investment and all, get paid as a form of investment as the growth happens for sure.

This is the big news actually, when players start wanting bitcoin as a form of their salary, it means that the circulation of information and also the player's trust in bitcoin increases. and of course management and companies will start to look at how bitcoin can be implemented in a more complex financial system later

[Oilacris]

Nothing to discuss much, NFL player have signed an agreement to get paid in bitcoin. Rather than the news about bitcoin as an accepted means, looking upon the salary I got astonished. Maybe more other players can take the same step forward looking over the growth of bitcoin happening. They doesn't need to think of investment and all, get paid as a form of investment as the growth happens for sure.

This is the big news actually, when players start wanting bitcoin as a form of their salary, it means that the circulation of information and also the player's trust in bitcoin increases. and of course management and companies will start to look at how bitcoin can be implemented in a more complex financial system later

Its already a good advertisement or exposure when someone whose that popular or known in public is engaging into something. Any publicity will always be good for Bitcoin specially now

that it is already getting some attention into an extreme extent.Sooner or later we would really be seeing on how high or valuable bitcoin could be. When everyone is already accepting it

as a form of payment or salary then adoption would go even more higher which means high demand which would make it even more precious.

Lots would take out consideration on accepting it as a form of payment even with the risk of volatility then they would still be willing to accept that.

[Oasisman]

Nothing to discuss much, NFL player have signed an agreement to get paid in bitcoin. Rather than the news about bitcoin as an accepted means, looking upon the salary I got astonished. Maybe more other players can take the same step forward looking over the growth of bitcoin happening. They doesn't need to think of investment and all, get paid as a form of investment as the growth happens for sure.

That only means the NFL will have a payment/salary option for Bitcoin soon and this will be the start. These pro athletes has huge salary and they can be a good addition in Bitcoin growth in the future.
I'm not sure, but I guess some pro athletes has been silently invested to Bitcoin. I remember Pacquiao who made his own coin but didn't took off (I'm not also sure). Considering these people got involved in cryptocurrency, and so does Bitcoin.

[AndySt]

This is the big news actually, when players start wanting bitcoin as a form of their salary, it means that the circulation of information and also the player's trust in bitcoin increases. and of course management and companies will start to look at how bitcoin can be implemented in a more complex financial system later

When one player wants bitcoin as a payment for their work, this is of course a very significant mass information reason for covering such a fact in the media. But still, a single fact is not a mass trend that can radically change the situation. When it comes to more, then you can expect synergy for the growth of the price and popularity of bitcoin.

[Sithara007]

That only means the NFL will have a payment/salary option for Bitcoin soon and this will be the start. These pro athletes has huge salary and they can be a good addition in Bitcoin growth in the future.
I'm not sure, but I guess some pro athletes has been silently invested to Bitcoin. I remember Pacquiao who made his own coin but didn't took off (I'm not also sure). Considering these people got involved in cryptocurrency, and so does Bitcoin.

Why can't they purchase BTC by themselves, rather than asking their employers to do that? Pacquiao was not the only celebrity who came up with his own coin. Dozens of others tried the same, including 50 Cent (he made his investment in Bitcoin as well and made some $8 million profit out of it). As far as I can remember, none of these coins managed to survive at the market for more than 6 months.

[Questat]

Another good news in sports and for crypto as a whole. They are now recognizing bitcoin, the fact that he wants his contract to be paid in bitcoin, I think he wants to hold it long term and he will belong to the one of the richest when bitcoin will eventually go to the moon.

[fuer44]

Those NFL players are now enjoying bitcoin glory, believe me. that would happen if the news was true that they were paid in bitcoin in 2020. and if in a row they get paid in bitcoins and they hold bitcoin, surely now is the right time to sell them and exchange them for $.

Congratulations to that NFL player and to the team that believes in crypto. I'm sure other industries will consider this too.

[bits4books]

Maybe many people will be against it - but I do not think that in my current state it is worth paying salaries with cryptocurrency. Why? The answer is very simple. First - additional profit (and sometimes superprofit) from nothing (it not so good in terms of working motivation). And secondly, you need to decide what will be the starting point dollars (5000$/month) or the cryptocurrency (0.12 btc) itself. If the first option is another way to raise money from nothing and this can relax employees too much, and second option may cause very funny situations when BTC simply may show x2 or -x2 in several weeks. And who will be the first to shout that corporations have taken away another freedom from us now? Of course, you, those who initially advocated to promote this topic. This is a very dangerous and slippery path.

[Taskford]

Those NFL players are now enjoying bitcoin glory, believe me. that would happen if the news was true that they were paid in bitcoin in 2020. and if in a row they get paid in bitcoins and they hold bitcoin, surely now is the right time to sell them and exchange them for $.

Congratulations to that NFL player and to the team that believes in crypto. I'm sure other industries will consider this too.

At the current rate provably they are enjoying it a lot especially the price of Bitcoin rise amazingly, if the NFL players didn't cash out their bitcoins for sure they earn a decent amount of money by now, but if they choose exchange it immediately with fiat then this became a normal day to them since they miss the opportunity to grow their money.

[FlightyPouch]

If he continues accepting half of his payment in bitcoin, he would be a whale in the next few years. That is a piece of amazing news and the fact that the price of bitcoin right now is increasing means that his decision is on point. I wonder is other NFL player or other sports professional player would do the same, like NBA or maybe MLB.

[Rengga Jati]

So, the payment is based on one BTC, and send the payment in BTC? Well, this is a good movement done. However, it is sure that Bitcoin is now very hype, and many more industries, companies, institutions, clubs, and people are getting into the crypto world especially Bitcoin. This is good news moreover if they use BTC as one of the permanent payments. IT will also increase the trust and value of the BTC itself, isn't it? There will be higher demand again than its supply. really great.

[Twinkledoe]

well when many people use bitcoin, it is certain that this can provide many advantages for the movement of bitcoin prices because high usage and high demand will make the supply less and it will be difficult to get bitcoin so it is very lucky for those who can provide salaries using bitcoin because the current price of bitcoin is very expensive.

I think that's one of the reasons why we are still in bullish run. People are still buying bitcoin for various purposes not just investment options. The more app we can derive from crypto, the better, as it will drive demand on the market, which of course is favourable to the community. I guess, there will be more players or artists like singers, musicians who will look into bitcoin option as part of the payment method for their services.

[Quidat]

Those NFL players are now enjoying bitcoin glory, believe me. that would happen if the news was true that they were paid in bitcoin in 2020. and if in a row they get paid in bitcoins and they hold bitcoin, surely now is the right time to sell them and exchange them for $.

Congratulations to that NFL player and to the team that believes in crypto. I'm sure other industries will consider this too.

At the current rate provably they are enjoying it a lot especially the price of Bitcoin rise amazingly, if the NFL players didn't cash out their bitcoins for sure they earn a decent amount of money by now, but if they choose exchange it immediately with fiat then this became a normal day to them since they miss the opportunity to grow their money.

They had indeed missed out the opportunity on making more money with just holding those coins that they had  recieved as a salary but this same goes too when the market tends to have a correction.
They are losing money into the salary that they had obtained through the form of bitcoin.If they do accept bitcoin then they are much aware of the risk and i presume they didnt make some conversion to fiat.
This is the beauty when we do look for long term with btc, it can really give out some chances or opportunity to earn more in just a short span of time.
For sure there would be other players might be get interested nor get inspired on what this NFL player had done.

[Shasha80]

I think a very good decision was made by Russell Okung by asking for salary paid in Bitcoin. As the current Bitcoin price continues to skyrocket,
I believe Russell Okung will influence other NFL players to do the same. If more and more people ask for salary payments in Bitcoin, this could
make Bitcoin more acceptable to more people. The result will increase the Bitcoin price.

[Sithara007]

I think a very good decision was made by Russell Okung by asking for salary paid in Bitcoin. As the current Bitcoin price continues to skyrocket,
I believe Russell Okung will influence other NFL players to do the same. If more and more people ask for salary payments in Bitcoin, this could
make Bitcoin more acceptable to more people. The result will increase the Bitcoin price.

A few years ago, celebrity adoptions such as the one from Russell Okung would have made an impact at the cryptocurrency market. But now, with hundreds of millions of users and large number of mainstream companies accepting Bitcoin, it may not make much movement. But the fact is that Okung made the request two years back, in 2019. The media ignored it then. They are covering it now because the Bitcoin hype is back.

[jaysabi]

I think a very good decision was made by Russell Okung by asking for salary paid in Bitcoin. As the current Bitcoin price continues to skyrocket,
I believe Russell Okung will influence other NFL players to do the same. If more and more people ask for salary payments in Bitcoin, this could
make Bitcoin more acceptable to more people. The result will increase the Bitcoin price.

A few years ago, celebrity adoptions such as the one from Russell Okung would have made an impact at the cryptocurrency market. But now, with hundreds of millions of users and large number of mainstream companies accepting Bitcoin, it may not make much movement. But the fact is that Okung made the request two years back, in 2019. The media ignored it then. They are covering it now because the Bitcoin hype is back.

I would generally agree with this. Everything about bitcoin is being covered by the mainstream media right now because the price makes it newsworthy. It's hard not to cover it when it doubles in a month from what was at the time already an all time high.