All annual salary to Bitcoin
Sean Culkin, a member of the National Football League (NFL) team Kansas City Chiefs, has announced that he will replace all his 2021 salary with Bitcoin (BTC).
Culkin argues that Bitcoin is the “future of finance.” He commented that he would like to prove his claim by investing himself, not just earning income as a player.
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 #Bitcoin..
— Sean Culkin (@ culkin22) April 26, 2021
According to the contents obtained by CoinPost’s information-affiliated crypto asset (virtual currency) media The Block, Mr. Culkin will be paid an annual salary of 920,000 dollars (about 99.4 million yen) in US dollars in weekly installments. It is said to replace it with Bitcoin. The payment application “Strike” is used to exchange Bitcoins.
Culkin, who also studied finance at university, said about converting his annual salary to Bitcoin: “People who are paid with the money they believe they can maintain their purchasing power over time, considering their future careers. Is good. “
“From a macro perspective, I believe Bitcoin has begun to transform from a highly speculative asset to a real asset that can be seen as a means of preserving value.”
The value of Bitcoin, which has an issuance limit, is explained as follows.
Many people are now aware that “rareness” is of high value, and there is growing interest in cryptocurrencies among the younger generation.
Other athletes want to take this fact seriously because it has global value, not just one country.
Culkin doesn’t recommend that anyone replace 100% of their salary with Bitcoin. He explained that he made this decision after considering his own assets and expected expenses in the future.
The NFL revealed in December last year that Carolina Panthers player Russell Okung will receive his annual salary in Bitcoin. The annual contract fee for 2020 is 13 million dollars (about 1.4 billion yen), 50% of which will be received in Bitcoin.
Relation: For the first time in US major sports, NFL players pay 50% of their annual salary of 1.3 billion yen in Bitcoin
Reference: The Block
Images used under Shutterstock license
“Cryptocurrency” means “cryptographic assets”