American football player to be paid his entire salary in Bitcoin

Kansas City player Sean Culkin will be the first in the NFL to receive his 2021 salary of $920,000 in Bitcoin. CoinDesk reports.

Culkin described it as “not the wisest financial decision.” However, he added that he expects it to be a long-term investment.

Another football player, Trevor Lawrence, signed a contract with the digital-asset portfolio management service Blockfolio.

We’re excited to announce our partnership with football star, @Trevorlawrencee! The world of sports and crypto will never be the same. pic.twitter.com/8KC3ZHHagu

— Blockfolio (@blockfolio) April 26, 2021

According to New York Times, the contract provides a ‘substantial bonus’ in cryptocurrency. The deal amount has not been disclosed.

“As soon as you start seeing names like Trevor Lawrence, and famous people from the entertainment industry, the taboo is officially broken. People realize that the crypto industry is real,” said Sina Nader, Chief Technology Officer of the crypto exchange FTX.

In August 2020, FTX bought Blockfolio for $150 million. Lawrence also struck an agreement with the exchange’s head, Sam Bankman-Fried, on a joint charitable donation of $100,000.

In March, FTX reached an agreement with Miami-Dade County authorities on a 19-year partnership to name the home arena of the local NBA team after its own name.

In December 2020, NFL player Russell Okung began automatically converting into Bitcoin half of his $13 million annual salary.

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