In May of 2019, Panthers OT Russell Okung sent out a tweet simply saying “Pay me in Bitcoin.”
Fast forward to today, in December of 2020, Russell Okung sent out a tweet saying “Paid in Bitcoin.”
He becomes the first NFL player to be paid in bitcoin and will be receiving half of his $13 million salary as such.
Russell Okung has not been shy in his support of bitcoin. He’s probably put a majority of his salary in it anyways, judging by the way he’s been seen repping the crypto currency.
A single Bitcoin is currently priced at around $26,000, up 250% from a year ago.
Hopefully Okung doesn’t receive his salary at the peak price that it’s at right now, there’s sure to be a pullback from it’s huge rise in the last few weeks. Back in December of 2017, Bitcoin reached the $20,000 mark but quickly pulled back to $8,000 just two months later, then $3,000 a year later.
Back in May of last last year when Okung sent out his original tweet, Bitcoin was priced at around $8,500. Hypothetically, if he would’ve received his salary then, he would’ve had $6.5 million worth of Bitcoin, or roughly 765 Bitcoin. That would now be worth around $20 million. So it might end up being a good investment for him.
Bitcoin has it’s ups and downs, and there’s many people out there like Okung who think it’s the future, but let’s just hope Okung can get paid during one of the downs to maximize his profit.
This could be a huge stepping stone in making Bitcoin the future, we’ll have to see if any other professional athletes step up and try to get paid in cryptocurrency, and if it pays off for them.