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This NFL player is the first to convert his entire salary into bitcoin

This NFL player is the first to convert his entire salary into bitcoin
STAFEFRS SAY THEY HAVEN’T LET A SINGLE DOSE GO TO WASTE. NEW AT NOON, KANSAS CITY CHIEFS TIGHT END SEAN CULKIN HAS ANNOUNCED THAT HE WILL TAKE THE ENTIRETY OF HIS 2021 BASE SALARY IN BITCOIN. THAT’S REPORTEDLY AROUND $920,000. IN A TWEET CULKIN SAID I FULLY BELIEVE BITCOIN IS THE FUTURE OF FINANCE AND I WANTED TO PROVE THAT I HAVE REAL SKIN IN THE GAME NOT JUST TRYING TO MAKE A QUICK BUCK. HE SIGNED WITH THE CHIEFS IN EARLY FEBRUARY AND PLAYED
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This NFL player is the first to convert his entire salary into bitcoin
Kansas City Chiefs tight end Sean Culkin announced on Monday that he will take the entirety of his 2021 base salary – reportedly around $920,000 – in bitcoin."I fully believe Bitcoin is the future of finance," Culkin said in a social media post. "I wanted to prove that I have real skin in the game — not just trying to make a quick buck."Culkin – who signed with the Chiefs in early February and played his college football at Mizzou – is the first NFL player to be paid entirely in bitcoin, according to Yahoo Finance’s CoinDesk.Offensive tackle Russell Okung, who famously followed through on his declaration to "pay me in bitcoin," still takes half of his $13 million salary in fiat, Yahoo reported.Yahoo reported Culkin will start stacking biweekly sats via Zap’s Strike, the same fiat-to-bitcoin salary conversion service Okung uses. The Chiefs are aware of Culkin’s arrangement, but he said his reserve contract is still denominated in dollars."Taking 100% of one’s income in BTC might not be a wise financial decision for everyone," Culkin told Yahoo. But he said his financial expenses, risk parameters and long-term conviction in bitcoin made it the right move for him."Professional athletes today operate as independent businesses and are more sophisticated investors than they’ve ever been before," Zap CEO Jack Mallers said in a statement."We’re excited to help facilitate the growing intersection between sports and finance by converting his entire NFL salary to bitcoin."

Kansas City Chiefs tight end Sean Culkin announced on Monday that he will take the entirety of his 2021 base salary – reportedly around $920,000 – in bitcoin.

"I fully believe Bitcoin is the future of finance," Culkin said in a social media post. "I wanted to prove that I have real skin in the game — not just trying to make a quick buck."

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Culkin – who signed with the Chiefs in early February and played his college football at Mizzou – is the first NFL player to be paid entirely in bitcoin, according to Yahoo Finance’s CoinDesk.

Offensive tackle Russell Okung, who famously followed through on his declaration to "pay me in bitcoin," still takes half of his $13 million salary in fiat, Yahoo reported.

Yahoo reported Culkin will start stacking biweekly sats via Zap’s Strike, the same fiat-to-bitcoin salary conversion service Okung uses. The Chiefs are aware of Culkin’s arrangement, but he said his reserve contract is still denominated in dollars.

"Taking 100% of one’s income in BTC might not be a wise financial decision for everyone," Culkin told Yahoo. But he said his financial expenses, risk parameters and long-term conviction in bitcoin made it the right move for him.

NFL player Sean Culkin in 2019. (Photo by Michael Reaves/Getty Images)
Michael Reaves / Getty Images
Sean Culkin in 2019.

"Professional athletes today operate as independent businesses and are more sophisticated investors than they’ve ever been before," Zap CEO Jack Mallers said in a statement.

"We’re excited to help facilitate the growing intersection between sports and finance by converting his entire NFL salary to bitcoin."