One of the most well-known NFL players announced Wednesday he will take 100% of his endorsement money in Bitcoin.
What Happened: Saquon Barkley’s endorsement money will be converted to Bitcoin via Strike, a Bitcoin BTC/USD payments company.
“You see inflation. You see how high it is right now,” Barkley said.
After missing time last season with an injury, Barkley discussed the dilemmas of having enough money in case his career was cut short.
“I’m gonna be taking my marketing money in Bitcoin,” Barkley announced on “The Best Business Show With Anthony Pompliano.”
When he entered the NFL, Barkley said his plan was to live off his marketing money and save his salary.
“This is the smart thing to do, the right thing to do.”
Strike CEO Jack Mallers joined the show and said he was proud of Barkley for taking the step to preserve his wealth for himself and his family.
“His cash is going to be worth half as less in five years,” Mallers said, citing inflation.
Mallers pointed out the average NFL career being 3 1/2 years providing financial uncertainties for athletes.
Barkley receives over $10 million in endorsements annually according to Joe Pompliano, who was featured on the show.
Endorsements for Barkley include Dunkin’ Donuts, PepsiCo PEP, Nike Inc NKE, Bose, Toyota Motors Corp TM and Panini.
Many of Barkley’s endorsements date back to 2018 when he was one of the top players in the NFL Draft.
See Also: How To Buy Bitcoin
Why It’s Important: As one of the best-known NFL players, the move by Barkley could spur the conversation to continue for athletes to be paid in Bitcoin or take a portion of their salary/endorsement money and save it in cryptocurrencies.
“Money is more than currency, it’s power. Getting paid in Bitcoin is the first step to option out of the corrupt, manipulated economy we all inhibit,” Russell Okung said last year.
Okung announced he would use Zap to convert 50% of his $13-million salary into Bitcoin.
Other NFL players including Tom Brady have shown support for Bitcoin. The New York Giants, who Barkley plays for, announced a crypto partnership earlier this year with Grayscale Investments, the company behind the popular Grayscale Bitcoin Trust GBTC
Companies looking to get exposure or press about Bitcoin and cryptocurrency could partner with Barkley as a brand ambassador to get exposure to their brand and also show their support of Bitcoin.
BTC Price Action: Bitcoin was trading 1.37% higher at $33,028.42 at last check Wednesday.
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