Russell Okung has no regrets about deciding to be paid in bitcoin.
The two-time Pro Bowler previously played for the Carolina Panthers when he made history as the first NFL player to receive part of his salary in bitcoin, according to Sports Illustrated. In 2020, he decided to accept half of his $13 million salary in bitcoin, converting the $6.5 million at market rates and receiving 240 bitcoins.
no more broke athletes. no more lost generational wealth.
pay me in bitcoin pic.twitter.com/ZqTM0Y1fsC
— OKUNG 🐆 (@RussellOkung) November 13, 2024
“I’m looking at Bitcoin. I’m talking to this young kid, young Silicon Valley type. We’re talking about me being paid in Bitcoin. I’m giving ’em the vision, but how will we do it,” Okung recalled in a video clip shared on X. “They’re not willing to adjust the collective bargaining agreement between the players and the owners. So what can I do to get the Carolina Panthers to play ball? Here’s the power of Bitcoin with U.S. dollars. You have to rely on trusted third-party banks, and you think they’re gonna keep your money safe. I would accept the check from the Carolina Panthers straight to a trust account.”
He added, “This trust account would then purchase Bitcoin on my behalf. So the check came in, it cleared, and I immediately received Bitcoin into my digital wallet. We made the announcement the next morning when I walked into the locker room. I made a freaking statement, ‘pay me in Bitcoin’ and it would take off.”
Okung’s risky moved paid off. At the time, bitcoin had reportedly been worth nearly $27,000, and now its value is at almost $90,000, which could make his original pay today worth more than $20 million, per Sports Illustrated.
“Getting paid in Bitcoin isn’t just about payment, it’s a statement against inflation, against control, against the old guard,” he wrote on X in response to a post sharing the update.
Since retiring from the league in June 2023, Okung has been using his platform to advocate for bitcoin as he considers it a route towards generational wealth. Let’s see how he continues to be rewarded.