Trevor Lawrence Becomes 3rd Pro Athlete To Be Paid In Bitcoin...

[KVB]

First was Russell Okung who was reportedly paid $6.5 million, half is salary...

https://www.nbcsports.com/northwest/seahawks/former-seattle-seahawk-russell-okung-puts-half-salary-bitcoin-considered-highest

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">An NFL first: <a href="https://twitter.com/hashtag/Panthers?src=hash&amp;ref_src=twsrc%5Etf w">#Panthers</a> OT Russell Okung will receive half of his $13M in salary in Bitcoin. As part of a partnership with <a href="https://twitter.com/in_strike?ref_src=twsrc%5Etfw">@in_strik e</a> and thanks to creative payroll solutions from the <a href="https://twitter.com/hashtag/Panthers?src=hash&amp;ref_src=twsrc%5Etf w">#Panthers</a>, <a href="https://twitter.com/RussellOkung?ref_src=twsrc%5Etfw">@russe llokung</a> will fulfill the goal he set when he tweeted “Pay me in Bitcoin!”</p>&mdash; Ian Rapoport (@RapSheet) <a href="https://twitter.com/RapSheet/status/1343929946918543363?ref_src=twsrc%5Etfw" >December 29, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Then Sean Culkin became the first player to convert his entire salary to Bitcoin...

https://www.espn.com/nfl/story/_/id/31339960/kansas-city-chiefs-sean-culkin-becomes-1st-nfl-player-convert-entire-salary-bitcoin

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I fully believe Bitcoin is the future of finance and I wanted to prove that I have real skin in the game — not just trying to make a quick buck. I will be converting my entire 2021 NFL salary to <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw ">#Bitcoin</a>.</p>&mdash; Sean Culkin (@culkin22) <a href="https://twitter.com/culkin22/status/1386664238861623297?ref_src=twsrc%5Etfw" >April 26, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

At about the same time we have Trevor Lawrence partnering with Blockfolio where he will place his signing bonus into an account with them...

https://www.usatoday.com/story/sports/nfl/draft/2021/04/26/trevor-lawrence-jaguars-signing-bonus-cryptocurrency/7383149002/

..."When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust," Lawrence said in a release...

[KVB]

No other major league, including soccer, pays players in BTC.

The Oakland A's, Sacramento Kings, and Dallas Mavericks all accept BTC for tickets.

[BarkingToad]

Another reason to root for Jacksonville

[Allure]

Well good luck with that

[jjgold]

massive mistake

[WireWire]

I'm all for crypto but this isn't a smart idea.

[champlain]

Very smart. In case he gets divorce, the lawyers won’t know how much value he has in bitcoin. He might have 10 million or 50 million. How would they able to track it?

[KVB]

For each of them it only represents half salary, one year of salary, and the signing bonus respectively.

It's effectively an investment directly. IRS gonna have a filed day with it if they can.

[Unrivaled]

Lmao so what happens if it crashes. They lose millions?

[KVB]

Lmao so what happens if it crashes. They lose millions?

Many athletes take their new found wealth and invest it all over they place.

Sometimes it goes wrong, sometimes it doesn't. Sometimes the athlete creates a business out of it and has something at the end of playing.

It can depend on their advisors.

One thing is for sure, these guys have the cashflow, so losing a half year, or year salary or signing bonus money isn't too big of a deal to them.

Sure there are "what if's" but a guy like Lawrence is likey insured. I would hope.

[KVB]

Some players give their signing bonus to charity, some their first year salary is given away. Some never touch their football pay as they can love more than comfortably off of endorsements.

For Lawrence, unless he gets a KC kind of deal, his endorsements will be the big money.

[ChuckyTheGoat]

Okung - at 7:00 of clip

[ChuckyTheGoat]

Okung said his payout increased by 60%.

[WireWire]

Okung said his payout increased by 60%.

Could go both ways, he got lucky, still wouldn't be taking my paychecks in BTC, average Joe taking btc payments instead of cash stupid but if you already have made millions its a totally different story. But for 99.99999% of the country this is a bad idea.

[pavyracer]

It's a tax scheme. They are hoping to save on taxes in the future when a bitcoin friendly president is elected by Gen Z.