First NFL player to convert all his salary into Bitcoin for 2021

Sean Culkin, a tight end for the Kansas City Chiefs in the NFL, will have his 2021 salary in Bitcoin.

Kansas City Chiefs player Sean Culkin is the first National Football League athlete whose entire annual salary is paid in bitcoin. Offensive tackle Russell Okung, who famously followed his “I'm getting paid in Bitcoin” statement, is still receiving half of his $ 13 million salaries in fiat.

Culkin himself made the announcement via Twitter, claiming that he “wholeheartedly” believes that the largest cryptocurrency is the future of finance.

Culkin will be stacking bi-weekly sats via Zap's Strike, the same fiat-to-bitcoin salary conversion service that Okung uses. The Chiefs are aware of Culkin's deal, but his reserve contract is still in dollars. Culkin said:

“Given my career - especially the physical demands and the shortness of time - it makes the most sense to be paid in healthy money that I believe will protect its purchasing power over time. From a macro perspective, I believe we are in the early stages of shifting Bitcoin away from extremely speculative value to a legitimate asset class viewed as a store of value. "

Culkin put his money in Bitcoin, which he calls the new gold standard, but with digital technology. Bitcoin can go up or down in value (like gold, silver, oil, stocks, and bonds), but it's cross-border like gold used to be.

Culkin isn't the only one venturing into the crypto world. Trevor Lawrence, the alleged top pick in this week's NFL draft, signed an endorsement deal with FTX's proprietary investment app Blockfolio and was paid in an undisclosed cryptocurrency, the New York Times reported.

Comments

The 5 largest platforms for non-fungible token (NFT) collectibles

Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day. More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream. But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token. Any asset that is tokenizable can be an NFT. This includes, for example, (digital) works of art, trading cards, game items and crypto domains. Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain. This allows them to store value just like real objects, even if additional copies are easy to make. For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...

El Salvador: Bitcoin bonds are a long time coming

El Salvador's finance minister believes Bitcoin's continued price volatility means Bitcoin bonds aren't coming anytime soon. Meanwhile, the country faces a human rights crisis. El Salvador Finance Minister Alejandro Zelaya said the country will further delay the launch of its expected billion-USD bitcoin bond, citing price volatility and uncertain market conditions resulting from the ongoing Russo-Ukrainian war. The news comes at a time when Amnesty International is accusing the Salvadoran authorities of flagrant human rights abuses and criminalizing those living in poverty. In an interview on local news show Frente a Frente, Zelaya was asked if the situation had changed with the planned bitcoin bond. “No, not yet, the [Bitcoin] price continues to be disrupted by the war in Ukraine,” He added that fluctuations are constant in the short term, but always appreciate in value over the long term. “There is a future and an economic innovation [in bitcoin] that we must bet on.” ...

Cryptostreet

Search This Blog