The tight of the Kansas City Chiefs, and National Football League player, Sean Culkin, has announced that the 2021 salary, will be changed to Bitcoin. It is imperative to mention that the first NFL player to publicly accept and announce to convert his salary to Bitcoin is Sean Culkin.
Also, it is important to mention that there will not be direct payment of cryptocurrencies by the chiefs, rather it will be a weekly payment to Sean Culkin, in dollars which will be latter changed to Bitcoin, through the mobile payment app strike.
$920,000 is the salary base of Sean per annum and the announcement was made by Strike, that was longing for a partnership with Sean Culkin.
“Considering my career—particularly its physical demands, and brevity—it makes the most logical sense to be paid in sound money that I believe protects its purchasing power over time,” said Culkin, in a release. “From a macro standpoint, I believe we are in the beginning stage of Bitcoin’s shift away from being extremely speculative to a legitimate asset class viewed as a store of value.”
“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,” Culkin tweeted this morning.
The five-year NFL veteran, previously of the Los Angeles Chargers and Baltimore Ravens, may be the first to commit his entire salary to Bitcoin holdings, but isn’t the first to convert at least part of his salary to the leading cryptocurrency.
Carolina Panthers offensive tackle Russell Okung announced in December that he would convert half of his $13 million base salary for 2020—reportedly $6.5 million—into Bitcoin using the same Strike app. That would’ve been about 240 BTC at the then-price of $27,000. Bitcoin’s price currently sits at nearly double that amount, and peaked above $64,800 earlier this month, meaning Okung has already seen a significant return on his BTC investment.