NFL star Saquon Barkley now convert endorsements into Bitcoin – American National Football League (NFL) player Saquon Barkley recently decided to convert his endorsements into Bitcoin. Notably, Barkley will use Strike to convert his earnings to crypto.
The NFL star shared that he got interested in BTC after looking into inflation. Fiat currencies are notoriously vulnerable to inflation. A reality that has caused Mexican billionaire Ricardo Salinas Pliego to liken fiat currencies to fraud.
For instance, according to US Inflation Calculator, the US dollar year-on-year inflation rate has gone up by 4.8%. Meaning, the US inflation rate rose from 0.6% in June 2020 to 5.4% by June 2021. Over the same period, Bitcoin price has risen by 253.7% despite the top crypto being down by almost 50% from its April all-time price high.
In line with this, Barkley explained,
We’re seeing inflation and we’re learning you can’t save wealth. That’s why I am going to be taking my marketing money in Bitcoin.
BREAKING: Saquon Barkley has announced on The Best Business Show that he is taking 100% of his endorsement money in Bitcoin going forward.
That's more than $10 million annually.
What a legend. pic.twitter.com/6gpQBewgMv
— Joe Pompliano (@JoePompliano) July 14, 2021
The NFL star made the comments on a “The Best Business Show” interview hosted by Anthony Pompliano. Of note, Anthony Pompliano popularly known as “Pomp” is the Morgan Creek Digital co-founder and a Bitcoin bull.
The other guest on the show was Strike CEO Jack Millers. Strike is a payment solution based on the Lightning Network. Barkley added that Mallers was the key person who helped him learn about the benefits of investing in crypto and Bitcoin specifically. Notably, Mallers also contributed towards El Salvador adopting BTC as legal tender. In addition, Strike is helping the South American country to develop its crypto wallet.
— Pomp 🌪 (@APompliano) July 14, 2021
To clarify, Barkley currently earns an eight-figure range for his marketing efforts. He also earned the NFL offensive rookie title in 2018. Currently, Berkley is the running back for the New York Giants. The Giants are sponsored by institutional investment giant Grayscale.
As such, Berkley will get direct deposits into his Strike accounts. Strike will then instantly convert the fiat deposits into BTC. Also, the NFL star believes the move will help him create generational wealth similar to other sports stars like Lebron James, Kevin Durant, and Tom Brady. In fact, Forbes reports that Lebron will surpass $1 billion in earnings this year, 2021.
Added to this are the risks associated with playing professional sports. Careers can be shortened due to unexpected injuries. Notably, this is a realization an increasing number of players are starting to realize. In fact, earlier this year fellow NFL player Sean Culkin decided to convert his salary to BTC for the same reason. To achieve generational wealth Barkley believes that his NFL salary is not enough. As such, he intends to leverage the benefits of crypto.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.