NFL player Russell Okung Doesn't get Paid in Bitcoin

in LeoFinancelast month

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I think you all heard about Russel Okung, a famous NFL player that is getting paid in Bitcoin. To be more exact he is supposed to receive half his salary in BTC for almost 2 years.

The salary he divides in two is 13 million dollars so 6 million goes into BTC directly since 2019! I saw so many posts both in here and on the new writing about this and i feel bad when someone hasn't actually done a decent research

Let me tell you what the truth is. So Russel Okung doesn't actually get paid directly in Bitcoin. So Okung has an agreement with the Panthers and he is their highest-paid player.

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We get paid in dollars and then he sends half of the money or asks others to do it on his behalf to a company named Strike which converts the money to BTC. Even the team confirmed that they pay him in dollars!

What i think confused many users and media, in general, was his tweets like the one below. Everyone can actually "get paid" in btc if he simply converts his salary in btc or any other altcoin

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That doesn't change the fact that it will lead many people to buy bitcoin though. Even if those people don't understand this clearly like some media etc etc they will still try to find info about btc and the rest of crypto.

It is still a victory for the crypto world and day after day more and more famous athletes are talking or buying btc. Check, for example, @uyobong's post about David Barral.

Fun fact: rumors have it that maybe Russ has made a deal with the company Strike to promote their business in exchange for who knows crypto? But that isn't confirmed though! Check another of his tweets

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I am glad you brought this up because there is a difference in being paid in Bitcoin and being paid in dollars and then having them converted to Bitcoin. If his salary is quoted in dollars then the actual amount of Bitcoin that he receives will be dependent on the exchange rate and therefore will fluctuate.

If his salary were to be quoted in Bitcoin such as you will receive 3000 BTC per year then he would get 3000 BTC regardless of the exchange rate. There is a tremendous difference and people don't make that distinction.

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it's as you say! and i hate inaccurate news especially for topics like that!

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Yeah Russell and Jack are mates so they helped set up a wire transfer to his strike account that sends half his salary to his cold storage!

I’ve been doing it myself for ages now not with that big money but I take my spare salary and I load it up to an app that spends it over 30 days so I buy BTC every day and then take those buys and dump in a BTC interest account

smart!!!

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Best investment of his life for sure.

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so true

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