Cryptocurrency may have begun with an uncertain future but has since achieved more significant success than anybody could have anticipated. When Satoshi Nakamoto created bitcoin, he intended to replace cash as a medium of exchange. The aim was to make bitcoin prevalent enough that there will be no government intervention and people will have complete control over their money.
The cryptocurrency market’s net worth has reached trillions. Any hesitation people might still have been overtaken by the fact that celebrities and athletes have been investing in cryptocurrency. Movie stars, athletes, sports players are quick to notice and adopt the technological changes in the world. They have the resources to invest in ventures that they believe will profit in the future. From Serena Williams to Lionel Messi to Matt Barkley, more and more athletes have invested in bitcoins and cryptocurrency. Many well-known NFL (National Football League) players are also active cryptocurrency investors. Some have also started receiving their salaries in cryptocurrency.
Cryptocurrency is a decentralized virtual currency. It has no physical form and is only stored digitally. The transactions are stored in a public digital ledger called the blockchain. Blockchain is responsible for maintaining the system’s integrity and security. The transactions taking place in cryptocurrency are verified by the process called mining.
Starting this list without discussing bitcoin is impossible. Bitcoin is the first decentralized currency released in 2009. For many years after its launch, it continued to be popular amongst certain communities. However, it led to the creation of several other cryptocurrencies. Bitcoin rose to prominence in the past few years, with its value increasing astronomically. Bitcoins can be used for making payments, buying and selling goods and services, apart from trading and investing.
Bitcoin is based on the peer-to-peer network, which eliminates the need for intermediaries. Transactions are secured through cryptography and stored on the blockchain. The process responsible for the verification and creation of more bitcoin is called mining. Transacting through bitcoin is convenient and secure. Transferring across borders is easy, and there is no extra transaction fee due to the distance. Read more to learn about bitcoin trading and investing.
The numerous advantages of bitcoin have led to its wide acceptance among people. El Salvador became the first nation to declare bitcoin as legal tender. The downsides to bitcoin include the ease of illegal activities and the huge carbon footprint that mining creates. Mining involves high power consumption, making it harmful to the environment.
Famous NFL Players That Are Prolific Cryptocurrency Investors
While many NFL players have started accepting their salaries in bitcoins, some people have commented on the need for exercising caution. Cryptocurrency is volatile, and no one can guarantee its successful future. Though the current predictions are in its favor.
Aaron Rodgers, in 2022, announced his decision to partner with Cash App Payment service to accept a part of his salary in bitcoin. He also announced a $1 million donation in bitcoin. He additionally mentioned that he believes in bitcoin and that the future is bright. While the amount of money he has invested in cryptocurrency is unknown, it is evident that he believes cryptocurrencies are the way of the future. This demonstrates Rodgers’ commitment to cryptocurrency.
Tom Brady, another star quarterback, has not hidden his interest in cryptocurrency. He is receiving his payment in cryptocurrency by FTX exchange, a cryptocurrency exchange. He is the brand ambassador and owns equity in the exchange. But this is not it. He launched his own NFT platform called Autograph, which is already popular. He also paid 1 bitcoin to a fan during his 600th passing touchdown.
Sean Culkin announced his plans to convert his entire 2022 NFL salary to bitcoin. With a degree in finance, Culkin is an avid supporter and investor of cryptocurrencies. In his interviews, the famous NFL player has iterated that he feels no risk in taking payments in cryptocurrency. Sean is an advocate of Bitcoin and its ability to transform the future.
Odell Beckham Jr.
Odell Beckham Jr., the football wide receiver for the NFL, was the third NFL player to demand his salary in cryptocurrency. He also gave $1 million in Bitcoin to his fans, similar to what Aaron Rodgers did in promotion for CashApp.
Like Tom Brady, Aaron Jones has also purchased equity in FTX exchange and will be receiving his compensation in cryptocurrency. In an interview, he also mentioned his intention of investing a portion of his earnings in cryptocurrency and related assets. Apart from that, he has incorporated the FTX pay platform into the charity website, allowing crypto donations.
Saquon Barkley also decided to use his cash payments to buy bitcoin using the Strike payment app. Much like others, he is not directly paid in cryptocurrencies. His interest in cryptocurrency is partly because of the transient nature of the NFL athletes. He plans on gathering wealth by using Bitcoin and cryptocurrency.
Trevor Lawrence partnered with FTX ( previously Blockfolio), a cryptocurrency investment app, and received his entire signing bonus in cryptocurrencies instead of dollars in 2022. The complete details of the agreement have not been made public, but it is clear that Lawrence aims to stay in the cryptocurrency world for a long time.
Barkley, a quarterback for the Buffalo Bills, is also a supporter of cryptocurrency. He stated in an interview that his first cryptocurrency investment was in Ethereum. While his total crypto investments are not publicly revealed, he has stated that the majority of his investments, including cryptocurrency, are long-term.
You might wonder about the common stance between all these players. All of them want to make cryptocurrencies more mainstream. They understand the importance of cryptocurrencies and believe that the crypto wave will soon sweep the world. Yes, cryptocurrency is volatile. It is, nevertheless, a ground-breaking payment technique. Consider having complete and entire control over your funds, as well as privacy and a reliable payment method. This is what cryptocurrency provides. Cryptocurrencies may not become fiat money anytime soon, but they are being accepted by an increasing number of countries.