The financial world is revolutionising, and digital finances are taking over fiat currencies. Since the 2010s, cryptocurrency’s popularity and acceptance have grown. People have come to accept the existence of Bitcoin and its use. As of July 2022, Bitcoin is worth $22,000. In March of the same year, the coin was going for $46,000. Bitcoin is the most expensive cryptocurrency and the most popular crypto. Because of this, it is what most athletes choose in payments.
Why athletes are now accepting crypto payments
- The future guarantee of crypto. Bitcoin has proved to be a good store of assets. By 2021 the coin had hit a high of $69,000, and in the future, it’s expected to hit $100,000.
- Current economic squabble and inflations make fiat currencies unstable and poor for investment options.
- Financial freedom with crypto.
- Bonuses from sponsorship deals such as crypto.com in the UFC.
Athletes getting paid in crypto
Some of the famous sports in the world now have a player or players paid in Bitcoin. Players take their full salary, half, or sponsorship royalties in crypto. Of the famous athletes getting paid in crypto, a few are:
Saquon Barkley
He plays for New York Giants and earns more than $10 million in endorsements, marketing, and sponsorship deals. Barkley decided to have all that income converted into bitcoin, to multiply that wealth for future generations.
Odell Beckham Jr
He plays for Los Angeles Rams as a wide receiver. The player agreed with the payment service Cash App and announced in November that the amount he receives for his one-year contract, $4.25 million with a base salary of $750,000, will be in Bitcoins.
Trevor Lawrence
He was the first pick in the NFL 2021 draft. He announced that all his bonuses added up to $24 million to be deposited into the cryptocurrency platform Blockfolio. All the money is in Bitcoin.
Klay Thompson
The NBA star went on Twitter in January 2022 and said he would start getting part of his paycheck in Bitcoin. He stated the reason for this is that cryptocurrency is the future of money.
Sean Culkin
The Kansas City Chief announced to turn his salary into bitcoin since cryptocurrency is the future of money.
Ifunanyachi Achara
The Nigerian-born star plays for Toronto FC and receives a part of his payments in Bitcoin. Achara said he believes bitcoin is a hedge against fiat inflation.
