"I Got My Salary in Bitcoin"... The NFL Star Smiling Alone

Odell Beckham Jr., Salary in Bitcoin

Through X Account: "Now It's My Turn to Smile"

NFL star Odell Beckham Jr. is now able to smile triumphantly in front of those who criticized his decision to receive his salary in Bitcoin.

According to investment-specialized media Benzinga on the 22nd (local time), Beckham decided to convert his base salary of $750,000 from the Los Angeles Rams in 2021 into Bitcoin through an advertising agreement with the blockchain-powered Cash App. At the time, there was criticism that Beckham was making a huge mistake with this decision. In reality, Bitcoin plummeted 80% the following year, and the criticism only grew louder.

However, the situation has dramatically changed nearly four years after making the investment in Bitcoin. On the 14th, via his X (formerly Twitter) account, Beckham stated, "Bitcoin hit an all-time high today. I can safely say I'm still satisfied with my decision."

When Beckham announced the Cash App deal, Bitcoin was being traded at about $60,000. The most recent price is $118,000. Compared to back then, that's a 96% increase. This means Beckham's salary, originally $750,000, is now worth as much as $1,470,000.

Even after accounting for 49.3% in federal and state income taxes on $750,000, he could still take home over $1.1 million. That's about three times the amount he would have earned if he had been paid in cash.

Last month, Beckham also said, "When I said I'd take my Cash App salary in Bitcoin, people doubted me. Now it's my turn to smile."

Before Beckham, other NFL stars made similar decisions. For example, retired Russell Okung announced in December 2020 that he would receive half of his $13 million Carolina Panthers salary in Bitcoin. Okung's investment is now estimated to be worth $22 million.

Reporter Daeyoung Kim, Hankyung.com kdy@hankyung.com