Panthers' Russell Okung becomes first NFL player to be paid in Bitcoin
Carolina Panthers tackle Russell Okung has never been shy about his love for Bitcoin. His infatuation with the popular cryptocurrency has landed him a pretty interesting deal.
According to NFL Network's Ian Rapoport, the Panthers will pay half of Okung's $13 million salary for 2020 in Bitcoin. The two-time Pro Bowler tweeted about his desire to be compensated in Bitcoin last year.
Bitcoin was created in 2009 as a new form of currency. It can be used to purchase a wide variety of things, though a lot of the hype surrounding the cryptocurrency is about getting rich by trading it, per CNN.
"Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value."
Okung is the first NFL player to have a portion of his contract paid out in Bitcoin.
The 32-year-old signed a four-year, $53 million deal with the Los Angeles Chargers in 2017 before being traded to Carolina in March. He is in the last year of his deal and is set to become a free agent in 2021.
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