NFL Player To Convert Entire Salary Into Bitcoin
This is big, first to come to mind was Russell Okung and now Sean Culkin who is having his entire salary paid in Bitcoin
Kansas City Chiefs player Sean Culkin will take the entirety of his 2021 base salary – $920,000 – in bitcoin.
The fifth-year tight end is the first National Football League player to be paid entirely in bitcoin. Offensive tackle Russell Okung, who famously followed through on his declaration to “pay me in bitcoin,” still takes half of his $13 million salary in fiat.
Culkin will start stacking biweekly sats via Zap’s Strike, the same fiat-to-bitcoin salary conversion service Okung uses. The Chiefs are aware of Culkin’s arrangement but his reserve contract is still denominated in dollars, he said.
“This is generational for me,” Culkin told CoinDesk.
Taking 100% of one’s income in BTC might not be a wise financial decision for everyone, Culkin admitted. But he said his financial expenses, risk parameters and long-term conviction in bitcoin made it the right move for him.
Culkin said he became aware of bitcoin in summer 2016 but it wasn’t until March 2020 that he began seriously considering it as an investment. One year later, Culkin is slated to swap his fiat income flow for bitcoin alone.