Los Angeles Rams wide receiver Odell Beckham Jr (OBJ) has announced that he would receive his NFL salary in Bitcoin through Square’s Cash App.
In entering the forefront of the increasingly popular digital currency, Beckham also confirmed that he would be giving away $1 million in Bitcoin as he returns to the Rams for the 2021/22 season.
On Twitter, OJB posted: “It’s a NEW ERA & to kick that off I’m hyped to announce that I’m taking my new salary in bitcoin thanks to @CashApp.
“To ALL MY FANS out there, no matter where u r: THANK YOU! I’m giving back a total of $1M in BTC rn too. Drop your $cashtag w. #OBJBTC & follow @CashApp NOW.”
Green Bay Packers’ Aaron Rodgers also recently opted to get a portion of his salary in Bitcoin and established a similar giveaway through the Cash App.
At the time, Rodgers stated on the decision: “Bitcoin to the moon … That’s why I’m pumped that I recently teamed with Cash App. They have enabled me to take part of my NFL salary in bitcoin for the very first time.”
Similarly, earlier this year Turkish basketball club Beşiktaş JK signed a front-of-jersey sponsorship deal with cryptocurrency market Icrypex which was paid entirely in Bitcoin.
Under the terms of the agreement the Istanbul-based company paid Beşiktaş JK 42 bitcoins, valued between $1.3 million and $1.6 million.
Insider Analysis – The relationship between sports and fintech continues to expand globally as such organisations continue to embrace cryptocurrency firms as a sponsorship partner with an active realisation of the flourishing crypto market. The UFC and NHL have released NFT’s as a way of engaging with their fans, which has led to a huge rise in popularity, perhaps indicating an increasing mainstream acceptance of the sector.