The cryptocurrency reaches the NFL and Culkin will convert all his salary to this new money
KANSAS CITY, Mo. – If you join the staff of the Kansas City Chiefs To start this season, tight end Sean Culkin will be the first NFL player to convert his entire salary to Bitcoin.
Culkin, who is vying to be a backup behind the starter Travis Kelce, would receive his $ 920,000 salary from the Chiefs in US dollars, but in turn convert it to Bitcoin.
“I have always had a great interest and passion for finance and economics since my days at Mizzou,” Culkin said. “Even before that, my father was great, very optimistic about gold. In the beginning, I was always exposed to his philosophies on what made gold an intractable investment looking at it from a macro perspective. There is a lot of overlap between gold and Bitcoin. I really spent all my time in the offseason last year just hearing about this growing space in crypto. It seemed like it was getting bigger and bigger. “
“Through education and learning and having a level of conviction over time, I felt like I wanted to be compensated for my services in football in Bitcoin.”
Culkin, 27, joined the Chiefs last February on a reserve contract.. He tweeted about his decision early Monday, saying that Bitcoin is “the future of finance.”
Culkin has played 19 NFL games in his career and caught two passes for the Los Angeles Chargers and the Baltimore Ravens. But he said that next season would be the first to convert his paycheck to Bitcoin.
“I want to do this with the idea that it will continue to increase in the long term,” he said. “For me, this is a long-term game, a generational game. The more I investigated, I didn’t necessarily link volatility to risk. I saw that Bitcoin was growing at such an exponential rate.”
“It’s going to have some major setbacks and falls and people will probably say I’m crazy, but I’m focusing on the long term. In the long term, it’s a stored value. What makes Bitcoin so intractable is its scarcity. it’s deflationary by nature. If you look at history, it shows over time. “
Veteran offensive lineman Russell Okung announced last December that roughly half of his 2020 salary from the Carolina Panthers would be converted to Bitcoin.. And the quarterback Trevor Lawrence, the likely number one overall pick in Thursday’s NFL draft, fsigned an endorsement deal with cryptocurrency investment app Blockfolio on Monday. The company said that its signing bonus will come in cryptocurrencies.
Associated Press contributed to this report.