As an experienced financial analyst, I am excited to see the growing trend of professional athletes embracing cryptocurrencies as part of their financial portfolios. The world of sports is always on the lookout for new opportunities and innovations, and the adoption of digital currencies represents a significant shift in how these high-earning individuals manage their finances.
Instead of “Forget the roar of the crowd, it is now the whirring of a Bitcoin transaction that’s music to the ears of several professional athletes,” you could say:
In simpler terms, the use of cryptocurrency as a digital money alternative is gaining popularity among sports personalities, moving beyond the tech community. They now opt for crypto wallets instead of relying on conventional banking systems to manage their funds.
As a researcher studying the integration of cryptocurrencies in the sports betting industry, I’ve encountered some challenges. Despite the growing popularity of digital currencies, major online bookmakers in countries such as Ireland, Sweden, and the UK remain skeptical and continue to favor traditional payment methods over crypto transactions.
As a researcher studying the intersection of sports and finance, I find it encouraging when professional athletes choose to engage with cryptocurrencies as part of their financial strategies. This trend signifies growing acceptance and recognition of crypto within mainstream finance.
Let us have a look at the list of athletes who went crypto!
Russell Okung – NFL
As a dedicated researcher investigating the realm of sports and technology, I’d like to share an intriguing observation. The National Football League (NFL) holds the title as America’s most beloved professional sports league, with its players often gracing our homes as familiar faces. Surprisingly, some of these esteemed athletes have ventured into the dynamic world of cryptocurrency, carving out pioneering roles within this burgeoning industry.
As a football analyst, I’d put it this way: I was drafted sixth overall in the 2010 NFL Draft as an offensive tackle for a team. Throughout my 13-year professional career, I had the privilege of representing four different franchises. Among my accomplishments were winning the Super Bowl with the Seahawks in 2013 and being named to the Pro Bowl twice – in 2012 and 2017.
From 2020 onwards, the athlete faced a series of injuries which left him without a team by the end of the 2020 season. He announced his retirement in 2023, but prior to that, he embraced the crypto world towards the later stages of his career. In 2019, he disclosed that a portion of his earnings were paid in cryptocurrency. Specifically, he acknowledged receiving approximately $6.5 million, or half of his yearly salary, in Bitcoin.
Trevor Lawrence – NFL
Trevor Lawrence, the first selection in the 2021 NFL Draft and a quarterback for the Jacksonville Jaguars, had already gained fame before stepping onto the field. His talent has continued to shine, solidifying his status as an up-and-coming star in the league during his third year under rookie contract.
Lawrence has been a strong supporter of cryptocurrencies since the start of his professional football career with the Jaguars. Upon signing, his entire $22.6 million bonus was paid to him in crypto using the Blockfolio app. He is publicly acknowledged to own Bitcoin, Ethereum, and Solana within his investment portfolio.
Saquon Barkley – NFL
As Lawrence progresses in his NFL career, Saquon Barkley is rapidly developing into a top-tier talent. The NFL Rookie of the Year from 2018, who was honored with this title after an impressive debut season, has been selected for the Pro Bowl on two occasions and serves as the focal point of the New York Giants’ offense.
A prominent running back in the NFL is known for being an outspoken advocate for cryptocurrencies. In 2021, he disclosed his plan to receive all of his earnings, beyond his fixed salary, in bitcoins. However, his base salary will still be paid in traditional currency. The exact value of his crypto income remains undisclosed, as Barkley has various deals with corporations such as Toyota and Nike. Reports suggest that he could have earned up to $10 million through crypto payments.
Cade Cunningham – NBA
Cade Cunningham, similar to Trevor Lawrence, was the top pick in the NBA Draft for the year, securing his spot with the Detroit Pistons. In alignment with the cryptocurrency trend, Cunningham decided to receive his signing bonus from BlockFi in bitcoins. His interest didn’t end there; he expanded his involvement by creating promotional videos and spearheading a comprehensive marketing campaign for BlockFi.
Klay Thompson and Andre Iguodala – NBA
As a crypto investor, I’m always on the lookout for notable figures joining the digital currency scene. In early 2022, basketball stars Klay Thompson and Andre Iguodala made headlines by announcing their intention to receive a portion of their salaries in bitcoin. This move was facilitated through their partnership with CashApp, a popular mobile payment platform. While Iguodala has since retired from the game, Thompson remains a crucial member of the Golden State Warriors, which has secured four NBA championships since 2015.
The Future of Crypto in Sports
As a researcher studying the intersection of sports and cryptocurrencies, I can’t predict with certainty how this emerging trend will unfold. However, one thing is clear: the landscape of payments in sports is evolving, and cryptocurrencies are making their mark. Some high-profile athletes have already adopted digital currencies, signaling a potential shift towards mainstream acceptance. Ultimately, whether cryptocurrencies become a dominant payment method or remain a niche option remains to be seen. But one thing is certain: the world of sports has welcomed cryptocurrencies with open arms, and they’re here to stay.
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2024-04-29 15:48