When Russell Okung, an offensive tackle for the Los Angeles Chargers, signed a four-year, $53 million contract extension in 2017, he made headlines for something other than his football skills. Okung became the first NFL player to be paid in part with cryptocurrency, specifically bitcoin.
At the time, each bitcoin was worth approximately $2,400.
Under the terms of his contract, Okung agreed to have half of his $13 million signing bonus and his entire $1 million base salary for the 2018 season converted into bitcoin. This meant that Okung’s take-home pay for 2018 was essentially $6.5 million in U.S.
NOTE: This article discusses the potential financial gains of investing in Bitcoin. It is important to note that investing in any cryptocurrency carries a high degree of risk and should be done with extreme caution. Before investing any money, it is essential to do research and understand the potential risks associated with investing in cryptocurrencies. Investing in Bitcoin should only be done as part of a diversified portfolio and only after understanding the risks involved. There is no guarantee of financial gain or security when investing in Bitcoin, and losses can be significant.
dollars and about 2.48 bitcoins, which were worth about $6 million at the time.
While the value of bitcoin has fluctuated greatly since then, at the time of this writing (March 2021), each bitcoin is worth approximately $56,000. This means that Okung’s 2.48 bitcoins are now worth about $138 million!
In other words, by being paid even a small portion of his salary in bitcoin back in 2018, Okung has made a fortune as the value of cryptocurrency has soared in recent years. It just goes to show that sometimes it pays to be ahead of the curve!.
8 Related Question Answers Found
Craig Wright, the self-proclaimed creator of Bitcoin, has been in the news a lot recently. He has been accused of faking his involvement with the cryptocurrency, and many people are wondering how much Bitcoin he actually has. Wright has claimed to have 1.1 million Bitcoin, which would make him one of the richest people in the world.
As of February 2021, Elon Musk’s estimated net worth is $196 billion. Of this, it’s believed that around $25 billion is invested in various public companies, $20 billion is held in cash, and the remainder is tied up in his own private businesses. Musk has been a vocal advocate of Bitcoin and other cryptocurrencies.
When it comes to Bitcoin, there are a lot of unknowns. For example, no one knows who created Bitcoin – though we do know it was created in 2009. And, while the value of Bitcoin has fluctuated wildly since it was created, it has shown remarkable resilience, bouncing back from crashes several times.
Since its inception, Bitcoin has been on an upward trajectory, with its value increasing exponentially. This has led to many people investing in the cryptocurrency, in the hopes of making a profit. One of these people is NFL star Odell Beckham Jr., who reportedly invested $1 million in Bitcoin earlier this year.
In February 2018, the Central American country of El Salvador made headlines when its President, Nayib Bukele, announced that his government was considering making Bitcoin a legal tender. This would make El Salvador the first country in the world to adopt Bitcoin as official currency. While the move was met with some skepticism, it also garnered a lot of support from within the cryptocurrency community.
When it comes to Bitcoin, there is no such thing as an official price. This is because the digital currency is not regulated by any government or financial institution. Instead, Bitcoin is a decentralized peer-to-peer payment system that allows users to transact directly with each other.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
As of late, the YouTube channel MrBeast has been in the news for his latest stunt – giving away $50,000 worth of Bitcoin to 20 lucky people. The giveaway was simple – MrBeast set up a website with 20 addresses, each with a unique key. To enter, people had to go to the website and send 0.
01 BTC to one of the addresses.
