Author: Zen, PANews
Recently retired NFL player Russell Okung retweeted a past report from sports media Bleacher Report (BR) on the “We want to be predictable, but greatness comes from the wild,” he added.
The tweet caught the attention of millions, and as Bitcoin surpassed $90,000, many people began to realize just how right Okun’s then-controversial choice had been.
There are many celebrities and athletes in the North American sports world who are as passionate about Bitcoin as Okun. For example, BR’s 2019 sidewalkAccording to , NFL quarterback Matt Barkley asked the San Francisco 49ers and Cincinnati Bengals to pay him a signing bonus in Bitcoin, but was turned down. When Barkley played for these two teams between 2017 and 2018, Bitcoin still had a long way to go before it achieved mainstream social acceptance. However, investing in Bitcoin has now become common, and there have already been cases of major sports leagues such as the NFL and NBA converting their salaries into Bitcoin.
In this article, we will compile some famous NFL and NBA players who are actively investing in the crypto market. Information is based on their public statements or foreign media reports. They are making huge profits from the crypto industry while also promoting the popularization of cryptocurrencies through their actions.
Spencer Dinwiddie
Although his on-court contributions have been declining due to a drop in performance across several teams this year, Dallas Mavericks guard Spencer Dinwiddie may have made significant returns from his cryptocurrency investments off the court. A “cryptocurrency pioneer” among NBA players, he first encountered Bitcoin in 2014 at the recommendation of a friend working in the financial industry, but due to many investment failures in the NBA, he was a 21-year-old rookie with an annual salary of only $1 million at the time. I couldn’t take the plunge easily and chose a more traditional and stable real estate investment.
In December 2016, Dinwiddie signed a three-year, $2.9 million contract with the Brooklyn Nets, at a time when Bitcoin was trading at around $775 and had already doubled by the end of that season’s regular season. During that season, Dinwiddie proved his worth and established himself with the Nets, and he became determined that he didn’t want to miss out on the rising price of Bitcoin. As the new NBA season began in the fall of 2017, Dinwiddie began watching his investments closely. Before the game started, when most players were busy getting into the “state,” he opened Coinbase, an app that supports cryptocurrency trading, to observe market trends. As he began to produce the best performance of his career, the price of Bitcoin also soared, reaching $150,000 by the end of the same year, tripling from the start of the season. He also began researching Tron, a relatively unknown token at the time.
Dinwiddie, who performed at an All-Star level in December 2018, With the Nets Signed a new 3-year contract worth $34.36 million. the next year Dinwiddie overcame official resistance from the NBA and converted the contract into an investment tool called Dream Fan Shares. He planned to sell 90 SD8 tokens, or Professional Athlete Investment Tokens (PAInT), through the tool, but ended up selling only 10%, falling short of his $13.5 million goal. Dinwiddie also launched Calaxy, a creator social marketplace that raised at least $33.5 million in funding.
Last October, a famous sports reporter Interview with Michael ScottoTalking about his post-retirement plans, Dinwiddie revealed that Calaxy’s current valuation is in the nine figures, and that he fully intends to “enjoy retirement” once it reaches 10 figures in the next cycle. (Some Chinese sports media incorrectly interpreted that he had more than $100 million in cryptocurrency assets.) But even if Dinwiddie didn’t receive a salary in the form of Bitcoin, the fact that his cryptocurrency assets were in the nine figures Although he has never voluntarily disclosed it, as an early investor in Bitcoin and cryptocurrencies, his profits are likely significant.
Clay Thompson & Andre Iguodala
Andre Iguodala on the left, Clay Thompson on the right.
Dinwiddie’s current teammate and new member of the Dallas Mavericks, Klay Thompson, is currently the most high-profile player to publicly endorse receiving a portion of his salary in the form of Bitcoin. “I’m investing in Bitcoin because I believe it’s the future of money,” the All-Star scoring guard, once dubbed the “Splash Brothers” with Stephen Curry, said in one tweet.
Klay, who returned in January 2022 after two and a half years away after suffering anterior cruciate ligament and Achilles tendon injuries, was probably recommended by teammate Andre Iguodala during his rehabilitation. After Clay’s return, the two immediately announced that they would work with Cash App to convert a portion of their salaries into Bitcoin and donate $1 million worth of BTC each to their fans. In a tweet, Iguodala wrote, “I converted part of my salary to Bitcoin through Cash App! Bitcoin is the future. Clay Thompson and I are Bitcoin believers.”
Klay’s contract earnings for that season were approximately $40 million, and Iguodala’s veteran minimum salary contract details were not disclosed, but is expected to be around $3 million. However, Iguodala, known as a prominent technology investor in the NBA, had already made significant profits through venture capital, so he had the confidence to convert all of his earnings into Bitcoin that season. According to data from Buy Bitcoin Worldwide, Iguodala earned $2.647 million in salary in the form of Bitcoin. Clay, who was “introduced to Bitcoin” by Iguodala, probably also holds at least this amount of Bitcoin assets.
Cade Cunningham
Detroit Pistons star Cade Cunningham entered the NBA with the No. 1 pick in the 2021 class. With a mature style and outstanding basketball IQ, the rookie also shows great insight in investing and financial management. He signed an exclusive multi-year partnership with BlockFi the summer before the season began. As part of the collaboration, BlockFi will pay Cunningham his signing bonus in the form of Bitcoin directly into his BlockFi account. “I am interested in the ease of use, democracy and consensus-based nature of cryptocurrencies, and their ability to evolve over time to meet the changing needs of financial consumers, including myself,” Cunningham said. From the statement It was revealed.
When FTX’s bankruptcy led to BlockFi’s bankruptcy, many people recalled their business collaboration with Cunningham. Crain’s Detroit Business sidewalkAccording to a source with knowledge of the collaboration, Cunningham’s Bitcoin bonus amount was very small, dwarfing the advertising fee he received in cash from BlockFi. There has been no further news about Cunningham’s crypto investments since then. In fact, compared to the five-year, $224 million maximum salary contract he signed with the Pistons, the two to three times the Bitcoin revenue he could have earned was virtually insignificant.
Tyrese Halliburton
Earlier this year, during the annual NBA All-Star Weekend, Coinbase held an event called “moonshot,” and Indiana Pacers star point guard Tyrese Haliburton attended the event, per CoinDesk. interviewI received it. He said he heard about Bitcoin a few years ago in college and that Dinwiddie was the first person to talk about it in the NBA. “The first cryptocurrency I came across was Ethereum, and I invested a lot of money in Ethereum because that’s the blockchain I use for NFTs. I want to invest in Bitcoin because it’s the blue chip among cryptocurrencies.”
Halliburton doesn’t day trade because of his personal schedule, but his brother said he trades frequently. “So I can picture myself taking a big chunk of money out of a contract and leaving it to my brother to day trade and watch the market drop. I’m sure this is a possibility for me.” Halliburton actually has the potential to do so. Last July, the All-Star guard signed a five-year contract worth up to $260 million with the Pacers.
Scottie Pippen
In July of this year, Scottie Pippen entered the cryptocurrency space. The NBA legend, who founded the Bulls dynasty alongside Jordan, launched his fan token Game 5 Ball ($BALL) on the Ethereum blockchain in August, after initially generating much anticipation on social media. This token is associated with the ball used in Game 5 of the 1991 NBA Finals. Shortly after the token was issued, chain detective Zach As of November 19, $BALL’s circulating market capitalization is approximately $5.6 million.
Related article: “Ethereum or Solana?” NBA star Pippen, who issued NFTs, is planning to re-enter the crypto field.
Interestingly, while Pippen was criticized and ridiculed for a series of comments in Game 5 Ball, he almost “accidentally” predicted Bitcoin’s surge. In September of this year, Pippen tweeted that Satoshi had told him in a strange dream that the price of Bitcoin would reach $84,650 on November 5. Eventually, on November 5, the price of Bitcoin approached $70,000, and a week later it reached $85,000.
Russell Okun
At the end of 2020, Russell Okung, who joined the Carolina Panthers, announced that he would receive half of his $13 million salary in Bitcoin. However, technical media Report from The VergeAccording to , the Carolina Panthers confirmed to the outlet that all teams pay players’ salaries in dollars. The article noted that Okun’s actions may have been aimed at promoting Zap, a Bitcoin Lightning Network payments company. This way, anyone can receive their salary “in Bitcoin form” at any time.
Eventually, Okun and Zap’s Strike formed a partnership, with the latter realizing that part of his salary would be paid in Bitcoin. Half a year later, when the price of Bitcoin exceeded $60,000 and then plummeted, he announced that he would not sell Bitcoin even if the cryptocurrency market fell, and there has been no disclosure of his investment strategy since then. Outside speculation is that if Okun still holds on to the 240 bitcoins he purchased with half his 2020 salary, the value of those bitcoins would exceed $20.9 million.
Trevor Lawrence
In April 2021, Trevor Lawrence, the No. 1 pick in the NFL draft, signed a deal with FTX to promote the company’s investment application Blockfolio. FTX said this was the “first signing bonus paid entirely in cryptocurrency” deal. According to USA TODAY, Lawrence’s investment portfolio includes major cryptocurrencies such as Bitcoin and Ethereum, and he has also invested in the blockchain Solana.
In June 2022, as the crypto market entered a downward trend, rumors circulated that Lawrence had converted his entire $24 million signing bonus into cryptocurrency and lost $15 million. Lawrence later tweeted: refute this rumorHe said they were confusing the $24 million signing bonus of the NFL No. 1 draft pick with FTX’s signing bonus. bloombergAccording to the FTX-related company’s bankruptcy filing, Lawrence received a $500,000 payment in September 2022. Additionally, other athletes who have been sued on behalf of FTX include Tom Brady, Stephen Curry, Shaquille O’Neal, Naomi Osaka, and Shohei Ohtani, and these wealthy top athletes appear to have no interest in this emerging field and are not involved in cryptocurrency. The investment was not disclosed.
Sarquin Barkley
“We have seen inflation, and we recognize that we cannot sustain wealth, so I am going to use Bitcoin to fund my marketing.” In July 2021, New York Giants’ star running back Saquon Barkley appeared on Pomp Investments founder Anthony Pompliano’s new YouTube show, ‘The Best Show in Business,’ and announced his collaboration with Strike for the future. We announced that all advertising contracts will be paid 100% in Bitcoin. Barkley has signed endorsement deals with famous brands such as Nike, Toyota, and PepsiCo. Pompliano estimates that Barkley’s advertising revenue “exceeds $10 million annually.”
Aaron Rodgers
On November 21, 2021, quarterback Aaron Rodgers tweeted that he had partnered with Square’s CashApp to convert an undisclosed portion of his 2021 salary into Bitcoin. Similar to the cases of Clay and Iguodala mentioned earlier, Rogers announced that he would donate $1 million worth of Bitcoin. The then 37-year-old signed a four-year contract worth $134 million with the Green Bay Packers and is averaging $33.5 million per season.
Odell Beckham Jr.
“Who told me it was stupid to get my Rams salary in Bitcoin?” On November 14, after Russell Okun celebrated Bitcoin’s surge, Odell Beckham Jr. publicly responded to past doubts.
On November 22, 2021, Los Angeles Rams wide receiver Odell Beckham tweeted that he would receive his new full salary in Bitcoin in partnership with CashApp. Beckham and the Rams contractincludes a base salary of $750,000, a signing bonus of $500,000, and a bonus of $3 million, which he ultimately received for winning his first Super Bowl with the team.
Sean Culkin
Kansas City Chiefs tight end Sean Culkin is the first NFL player to announce he will convert all of his salary to Bitcoin. In April 2021, ESPN reported that Culkin signed a preseason/future contract with the Chiefs in February, and that he planned to convert all of his $920,000 salary into Bitcoin. “I want to do this because I believe Bitcoin will rise in the long term,” Culkin said. “In the long term, it is a store of value. The reason Bitcoin is difficult to handle is because of its scarcity. History “If you look back, you can see that the value increases over time,” he added.
However, less than a month after Culkin announced this plan, He was released by Chiefs. He would not have been able to receive the remainder of his salary because these contracts are typically non-guaranteed. He has not played for any team since. But his laser-eyed profile photo on the
