A player in the National Football League (NFL), Sean Culkin will be the first player whose salary would be paid in bitcoin.
Culkin, according to sports network ESPN, would convert his $920,000 salary to bitcoin and would be the first NFL player to do so.
Culkin explained that he’s always had a keen interest in finance and economics, and was shaped by his father who was “really bullish on gold”.
He said, “I was always exposed to his philosophies on what made gold an intractable investment looking at it from a macro perspective. There’s a lot of overlap between gold and Bitcoin.”
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In a tweet, the athlete expressed his belief in the future of bitcoin, stating that as his reason for taking the step, adding that “I wanted to prove that I have real skin in the game”.
The player added, “I want to do this with the thought it would continue to rise over the long term.
“This for me is a long-term play, a generational play. The more research I did and the more I zoomed out, I didn’t necessarily link volatility to risk. I saw Bitcoin was growing at such an exponential rate.
“It’s going to have some large pullbacks and dips and people are probably going to say I’m crazy, but I’m focusing on the long term.
“Long term, it’s a stored value. What makes Bitcoin so intractable is its scarcity. Over time, it’s deflationary by nature. If you look at history, it appreciates over time.”
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