Russell Okung made NFL history in 2020 when he chose to take his salary in Bitcoin. He became a pioneer, with several other players following suit. Even stars like Aaron Rodgers, Odell Beckham Jr., and Trevor Lawrence later accepted portions of their pay in cryptocurrency.
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But why did Okung take part of his salary in Bitcoin? After all, it was a significant financial risk. Wouldn’t it have been safer to stick with paychecks that do not fluctuate in value?
Okung recently tried to explain his decision, calling Bitcoin the best asset class today and describing it as an effective hedge against inflation. He illustrated his point with an analogy.
“The way I look at it, imagine for a moment that you’re on the football field, and you’re playing in the game,” Okung began on the NFL Players: Second Acts podcast, adding,
“You’re on the offense, and you’re moving into enemy territory. You’re on the 30, and you’re advancing towards the 20, and now you’re on the 10, and finally in the red zone. Then the referees decide to move the goalposts on you… This is inflation.”
It was an interesting analogy, but it needed more explanation.
“This is people working their entire lives, doing everything right, and they’re getting contracts, and they’re getting salaries. And the more they get paid, the more their expenses and the things they want most in life run away from them. This is why Bitcoin is so powerful,” Okung added.
The former offensive tackle then noted that building wealth through Bitcoin can be fairly simple. All he had to do was buy and hold. By late 2024, his $6.5 million investment had grown to $26 million, quadrupling his return.
Now, Okung is financially outperforming analysts from the Big 4.
“I have outperformed people from Goldman [Sachs], all these guys in New York, over the world, global asset managers; I’ve outperformed them. Just by holding an asset,” Okung revealed. “I don’t have a finance degree, don’t have an economics degree. It’s that simple.”
He later revealed that the current price of Bitcoin today is $107,000. But even though it’s much pricier than it used to cost, he would still recommend buying it because it’s an easy investment to make a profit on.
At the end of the day, Okung hit the jackpot with his Bitcoin investment. He’s continued to invest in cryptocurrency and has attempted to create a new sporting league called “Bitball,” where the athletes are paid solely in Bitcoin. It’s an interesting concept that could one day take off in popularity. Especially if Bitcoin continues to be profitable.
