There's a trend of people asking to get paid in Bitcoin.
The mayor of New York Eric Adams is doing it. So is the Los Angeles Rams' other receiver Odell Beckham Jr.
Business sports guy Darren Rovell explains how OBJ screwed himself by taking his salary in crypto, in light of the big crypto crash.
The amount of people applauding players changing their salary into Bitcoin as if they were heroes has been comical.— Darren Rovell (@darrenrovell) January 23, 2022
Rams WR Odell Beckham Jr., at least in the moment, provides a cautionary tale. pic.twitter.com/uW0QDdJrYy
"On November 12, Odell Beckham Jr. signed a deal with the Rams worth $750,000. He announced he would take that in Bitcoin. At the time, Bitcoin was worth $64,293. Today it is worth $35,400. [It's worth less now.]
Today, that deal is worth $412,953.
Odell will be taxed on $750,000. Federal & CA state tax will be 50.3%.
That means Odell, as of now, has netted $35,703 from the Rams contract this year."
Maybe he'll get a Super Bowl to make up for that.