Klay Thompson and Andre Iguodala have announced that they will be receiving part of their salary in Bitcoin after a partnership with Cash App. The Golden State Warriors stars will also be donating $1 million in BTC to fans.
Thompson made the announcement on his Twitter handle, stating,
“I’m with bitcoin because I believe it’s the future of money.”
Partnership With Cash App
The two stars will receive a portion of their salary in BTC thanks to a partnership with Cash App. Cash App is a money transmitting and BTC buying app, which is owned by Block Inc. (formerly Square Inc), which is led by Jack Dorsey. Dorsey is hugely bullish on Bitcoin. Cash App will facilitate the conversion of the player salaries and act as an intermediary for the donations. Iguodala had also tweeted announcing the partnership, stating,
“Bitcoin is the future; Klay Thompson and I are both believers.”
BTC’s Growing Popularity
Both Klay Thompson and Andre Iguodala join a growing list of athletes that have started taking their compensation or part of their compensation in Bitcoin, the largest and most popular cryptocurrency in the world. BTC has made significant gains against the Dollar, enabling BTC holders to dramatically increase their purchasing power and value of their assets, with traditional fiat currencies losing value every year.
Athletes from all spheres of the sporting world have noticed the changing dynamic and are now demanding to be compensated in BTC.
The BTC Trend
The trend of asking to be compensated in BTC started with Russel Okung, who tweeted “Pay me in Bitcoin.” in 2019. In an interview later the same year, he stated that he would not stop until he was paid in BTC, which finally happened in December 2020, when Okung got paid in BTC thanks to Strike, a lightning payments app. Strike was able to handle the conversion of bis yearly paycheck into BTC. Today, all Strike users can avail themselves of the service. Odell Beckham Jr stated that he would be taking his entire yearly compensation in BTC, while Mac Jones, Patriots Quarterback, gifted his entire offensive line BTC
The Aaron Rodgers Partnership With Cash App
NFL legend and reigning MVP Aaron Rodgers had also announced that he would receive part of his salary in BTC in November 2021. As part of his partnership with Cash App, he would also be giving away $1 million in BTC. Rodgers becomes one of the biggest names to jump into the crypto space, which also includes other stars such as Tom Brady, Saquon Barkley, and Lionel Messi.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Credit: Source link