Odell Beckham Jr. is reaping the rewards of his 2021 choice to receive his Rams salary in Bitcoin. The Miami Dolphins wide receiver recently took to social media, posting, “Who said taking my Rams salary in Bitcoin was dumb again?” as Bitcoin’s value surged past $90,000. This current price is about 40% higher than the $64,293 rate in effect when he initially opted to take his $750,000 salary in cryptocurrency on November 12, 2021.
His post humorously referenced the lyric “They see me rolling, they hatin’” from rapper Chamillionaire. While Beckham’s representatives haven’t confirmed if he retained his entire Bitcoin position, his post hints that he held through both market peaks and troughs. If he decides to sell, any gains could incur capital gains taxes, in addition to the income tax likely applied when he first received his salary.
Beckham’s conversion was facilitated through a partnership with Block Inc.’s Cash App. Although the value of his Bitcoin dropped to as low as $401,500 during the crypto market slump of 2022, the recent rally has lifted his position, overcoming earlier criticisms that labeled his decision a risky move.
Beckham isn’t the only pro athlete in the crypto game. Russell Okung, a former Carolina Panthers player, converted $6.5 million of his 2020 salary into Bitcoin when the price was $27,000—an investment that has since grown significantly. Other athletes like Tom Brady, Saquon Barkley, and Trevor Lawrence have also explored crypto compensation in various forms.
This trend isn’t limited to athletes, as the crypto job market continues to expand. Tiger Research reports that global Web3 job listings have risen by nearly 20% year-over-year following the U.S. SEC’s approval of Bitcoin ETFs in January 2024. Asian markets, especially in Singapore, India, and Hong Kong, are leading the surge in hiring. Many companies are now offering compensation in tokens, Ethereum, and Bitcoin, according to Raman Shalupau, CEO of CryptoJobsList. He noted that the market upswing this year has accelerated hiring efforts.
The growth in crypto is also connected to shifting political winds. Following Donald Trump’s recent election win, his shift from crypto skeptic to advocate has boosted the sector, with Trump promising to establish the U.S. as a leader in cryptocurrency. Over the past year, Bitcoin has risen by 139%, with Ethereum climbing 55% to reach $3,100.
