Carolina Panthers’ Russell Okung Becomes The First NFL Player To Be Paid In Bitcoin
Bitcoin and the black dollar in the NFL
It’s no secret that I’m an advocate for the industries of cryptocurrency and technology and as a day trader, I understand a lot of the economical news at a faster pace we look at fundamentals daily, weekly, monthly, and understand the important calendar dates that will determine interest rates, non-farm payroll, oil levels, G summit meetings, Brexit and more.
Digital currency within the next 10 years or less will be the majority and when you have professional NFL player like offensive lineman for the Carolina Panthers, Russell Okung making that leap it speaks volumes, he will receive a part of his $13 million contractual yearly payment in Bitcoin. This setup comes via Zap, the bitcoin app that Jack Mallers founded.
A direct deposit of Okung’s salary will be made to The Strike product by the Carolina Panthers, and they will give Okung the amount by changing out the dollar value for bitcoin. The resulting bitcoin will then be sent to Okung’s privately held cold storage wallet, making it quicker and a far cheaper option than using the Bitcoin network. His $13-million salary will be split in half between bitcoin and fiat, according to a statement by Mallers.
This move shouldn’t come as a surprise for those who have kept an eye on Okung as the player expressed his desire to be paid in the cryptocurrency earlier in May 2019. Updating that tweet on December 29th, 2020, the player wrote, “Paid in Bitcoin.”
Okung had previously expressed his frustration at the lack of economic power held by Black athletes in particular and said that the Bitcoin serves as a means to regain financial independence. He has also launched an advocacy project to this end which I think is remarkable, it’s no secret that the black dollar doesn’t circulate as it should and with a buying power of 1.4 trillion dollars according to a report by Selig Center for Economic Growth circulating shouldn’t be an issue but it is so when you see Okung changing that narrative its always something to salute.
Originally published at https://www.culturecurbside.com.