Bitcoin gains acceptance as Odell Beckham jr commits 2021 pay to currency


TL;DR Breakdown

  • Odell Beckham Jr. announces his coming contract to be settled in Bitcoin.
  • Crypto popularity among celebrities seems to be on a high and could be beneficial to mass adoption.

According to a Twitter post on 22nd, Odell Beckham will get his next paycheck using Bitcoin from Cashapp. The Los Angeles Rams wide receiver admitted he will receive his entire 2021-2022 salary in Bitcoin. Additionally, he will be dedicating one million out of the four million-plus cheque to his fans. 

Odell will give the funds to all his fans who reply to the tweet using a specific hashtag #OBJBTC until December 10 or until the funds run out. The Los Angeles wide receiver will not be the first celebrity endorsing bitcoin, showing bitcoins’ popularity today.

So far, the king crypto has managed to garner over $68 000, which is over 4500% since last year. Furthermore, institutional investors are noticing the crypto space investing heavily in crypto despite their earlier reluctance. 

According to Cashapp, pseudonymous Satoshi Nakamoto introduced a new era to the financial industry. He/they taught the first physical asset and also presented the world with blockchain technology. Overall, it offers better security, faster cross-border payments at low costs absent in traditional finance. 

Since then, there are already over 13 000 cryptocurrencies and real-world use cases of blockchain technology. 

Aaron Rodgers says bitcoin is the future

Earlier this month, Dream Bay Packers quarterback collaborated with Cashapp; he offered a million to his fans to express his faith in cryptocurrency. According to his Twitter post, Bitcoin will be the future of financial services. 

Moreover, he expects the value of the coin to shoot up beyond its current level. To express his faith in the currency, Rodgers sent coins to all his fans who replied to his tweet using the #Paidinbitcoin. According to the screenshots sent by his fans, the amounts sent out varied between $10 and $100.

This contract will be the first among many to pay his NFL salary in cryptocurrency. Russell Okung, Saquon Barkley, Tom Brady, and Sean Culkin are professional athletes taking the next paycheques in crypto.

Tom Brady gave a bitcoin to the fan who caught the 600th career touchdown pass ball. The Tampa Bay Buccaneers quarterback and his wife, supermodel Gisele Bundchen bought an equity stake in FTX, a crypto derivatives exchange company. The couple also signed contracts to become ambassadors for the company. 

Other celebrities such as Megan Thee Stallion and Miley Cyrus signed contracts with Cashapp to receive their salaries and benefits using bitcoin. The two artists offered a million dollars to their fans who retweeted the message using specific hashtags. The celebrity endorsements and giveaways have created awareness for bitcoin across social media.

Crypto gains mainstream acceptance

According to venture capitalist Tim Draper, Bitcoin and cryptocurrency will revolutionalize the financial sector. Blockchain technology has facilitated cryptocurrency trading through decentralized platforms. While there is a risk in investing in crypto, it still holds lucrative returns for investors. 

Traditional finance is still an obstacle to crypto adoption despite the growing awareness. All the same, the steps crypto is taking are still a massive progression to what the future holds.

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Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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