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Once thought to be nothing more than a passing novelty, it is now firmly entrenched in the world’s monetary systems. The young prospect was paid for his support in cryptocurrency.įinance and investing have been set on their ears over roughly the past decade, as crypto has picked up an incredible head of steam. Free-agent offensive lineman Russell Okung took half of his salary $13 million) in Bitcoin last year, which some say would technically have made him the highest paid player in the NFL.Īdditionally, Clemson quarterback Trevor Lawrence, who just became the first overall pick in the 2021 NFL draft, ust signed an endorsement deal with Blockfolio, an FTX-owned investing app.
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While it may be hard to envision the continuation of growth at such an aggressive pace, even if it continues at a fraction of those rates, the football player could see an amazing return on his investment.Ĭulkin may be the first player to go all in with Bitcoin, but others have previously jumped into the cryptocurrency. Depending on how long he holds the Buitcoin, he could see his earnings dramatically increase (of course it’s possible they dramatically decrease as well).Īccording to Robinhood, Bitcoin has increased in value more than 12,500% over the past five years more than 575% in the past year and more than 76% in the past three months (as of 4/30/21). He will be having the Chiefs pay his salary (in dollars) to Zap’s Strike, a dollar-to-Bitcoin conversion service. However, the trend has largely been upward, which is what Culkin is betting on continues. Valuations can fluctuate as much as 10–20% in a single day. He went on to elaborate to Yahoo! that “taking 100% of one’s income in BTC might not be a wise financial decision for everyone.”ĭespite its rapid growth, cryptocurrency remains incredibly volatile. I wanted to prove that I have real skin in the game - not just trying to make a quick buck.” “I fully believe Bitcoin is the future of finance. He has been used sparingly throughout his career, accumulating two catches for 36 yards in his four years in the league.ĭue to be paid around $920,000 in 2021, Culkin recently announced via an Instagram post that he will be taking the entirety of his salary in Bitcoin. As the commodity continues to not only grow in price but popularity, it’s gaining increased traction in the mainstream, including NFL player Sean Culkin recently announcing that he will become the first professional athlete to take his entire salary in Bitcoin.Ĭulkin, a journeyman tight end, joined the Kansas City Chiefs this offseason after spending 2020 with the Baltimore Ravens and 2017–2019 with the Los Angeles Chargers. This has been personified by Bitcoin, the behemoth in the sector, with individual coins currently valued at better than $58,000 each. Professional athletes placing increasing trust in cryptocurrency will only help standardize it in mainstream societyĬryptocurrency has set the financial and investing worlds on fire in recent years, with values skyrocketing for many of the virtual coins.