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Panthers Russell Okung becomes first NFL player to be paid in bitcoin
Greg Giangrande. Gen Z fashion trends of 40 styles for a youthful aesthetic. Save big during the Saks Off 5th sale: Clothing, shoes and more. Drew Hawkins, CEO of Edyoucore, a financial consulting firm, said the frequent fraudulent activity surrounding bitcoin is a concern and added, "a lot of guys need to understand what it is and how it works and what it is not.
Panthers’ Russell Okung Becomes First NFL Player to Be Paid in Bitcoin - BNN Bloomberg
But if you don't know what you're doing and not investing in this thing long-term, there will be a lot of volatility in-between. Added Hawkins: "People have done well and made a lot of money off of it, but you've also had an equal amount of situations that ended up not panning out to what somebody was anticipating or ended up in some substantial losses.
Strike is also coordinating more arrangements emulating Okung's with players from the Brooklyn Nets and New York Yankees, according to bitcoin news site CoinDesk. The site did not name the players involved. Matta said Okung's move would provide more credibility for bitcoin, and that could trigger even more athletes to invest in digital currencies.
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Potential investors can also purchase bitcoin through other mobile payment apps, including PayPal, Cash App and Square. An earlier version misstated the year.
NFL Player Receives $6.5 Million Salary in Bitcoin
This story was updated to reflect the NFL's comments on the matter. Skip Navigation.
Markets Pre-Markets U. Key Points. With the cryptocurrency's price regularly reaching new highs, other pro athletes could be triggered to start investing in bitcoin.
In this article. But like any investment, Okung, 32, is taking a considerable risk.