Saquon Barkley, the star running back for the New York Giants, announced that he will be switching his endorsement payment to bitcoin. The move is a testament to how much cryptocurrency has evolved since it first emerged as an idea in 2008 and shows that it is now more than just a fad or novelty.
Saquon Barkley, Star of New York Giants switched endorsement payment to Bitcoin. He is the first NFL player to do so and does not regret it.
Saquon Barkley, a running back for the New York Giants, said that he will convert all of the money he earns from sponsorships to Bitcoin.
While information about a player switching his endorsement to Bitcoin is unlikely to be noteworthy, It’s a different thing when a player like Barkley does it. The reason for this is because Barkley is a hotshot athlete with a slew of endorsement deals. While some mid-level executives make tens of thousands of dollars through local endorsements. Barkley makes “almost $10 million per year” through his endorsement deals with Nike, Toyota, and Pepsi. Along these lines, the young genius has embarked on a massive undertaking.
“We’re witnessing inflation, and we’re realizing you can’t preserve wealth,” Barkley said in an interview with Anthony Pompliano on “The Best Business Show.” As a result, I’m going to take my marketing funds in bitcoin.”
Barkley believes that his superstar teammates, such as LeBron James and Tom Brady, have done an outstanding job of building generational wealth for their families. Barkley understands that money and endorsements alone aren’t enough. At the very least, not to perpetuate his lineage for a long time.
Grayscale Investments has backed the New York Giants in their efforts to collaborate with crypto groups. Barkley wants to convert his paycheck to BTC via the Strike program. And he’s friends with Jack Mallers, the CEO.
Many athletes want to be compensated in cryptocurrency.
Despite the fact that Barkley’s pay is not paid in cryptocurrency. With little more than his sponsorship money, he becomes the most recent in a long line of rivals who are turning to cryptocurrencies. At the same time, many participants believed that safe crypto payments were difficult to come by. Although Barkley’s deal, and others like it, can go around each alliance’s CBAs to pay the important players in the way they need to be paid.
For example, quarterback Trevor Lawrence, the new boy on the block, requested that his whole signing bonus be paid in bitcoin. Lawrence received a $23 million signing bonus as the first overall selection in last year’s draft.
Spencer Dinwiddie of the NBA is by far the most active competitor when it comes to crypto. Aside from that, he owns a piece of the NFT collectable platform. He did, however, try to tokenize his agreement so that it might be sold as a tradable monetary resource. According to Dinwiddie, the deal provided investors with the chance to invest in the first-ever security represented by a Professional Athlete Investment Token (PAInT). Dinwiddie’s agreement would be bound by the security.
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Saquon Barkley, Star of New York Giants Switched Endorsement Payment to Bitcoin Reference: bitcoin price.
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