Pay Me in Bitcoin!
Athletes Big into Crypto, podcast review, Indy 500, more!
Athletes and celebrities are getting involved in Bitcoin in a big way. Many are requesting to be paid in Bitcoin, including NFL tight end Sean Culkin, offensive tackle Russell Okung, and quarterback Matt Barkley. Okung received half of his $13 million salary from the Carolina Panthers last year in Bitcoin. (Assuming the other half went to taxes and his agent!) Culkin announced that he wanted 100% of his 2021 salary in Bitcoin, hoping to become the first NFL player to do so. It’s unsure which team may get that chance this fall, as he was released by the Kansas City Chiefs on May 11th.
Okung has been a vocal champion of crypto, tweeting his support on a regular basis. The NFL is quick to point out that players are not actually being paid directly in Bitcoin. Many are using the services of crypto payroll companies, such as BitPay, BitWage and Zap, to immediately convert some of the paycheck to crypto, before the athlete even receives it. NFL statement on Okung: “His people are converting some of the money into bitcoin after he gets paid in US dollars, just like every other NFL player.”
Tony Hawk, Pro Skateboarder:
Hawk, the 53 year-old legendary skateboarder, entrepreneur and video game developer, has apparently been a Bitcoin HODLer since at least 2013. While it isn’t clear how much Bitcoin Hawk owns, the crypto traded well under $1,000 for most of 2013, making it likely that Hawk owns a substantial stack. And this Saturday, Hawk takes the stage at Bitcoin 2021 Miami (see below!) as one of the featured speakers on the main Nakamoto podium. His 9:45 AM talk will be followed, reportedly, by a live demo.
Serena Williams, Tennis star:
The tennis legend has backed several crypto projects through her venture capital firm, Serena Ventures, including some early funding of the mega-exchange Coinbase in 2019. She launched the VC firm in 2014 and has also invested in the Crypto rewards company Lolli. Williams is married to tech entrepreneur Alexis Ohanian, co-founder of Reddit as well as several other ventures.
“Iron Mike” Tyson, Boxer:
Tyson, former heavyweight champion of the world, has been involved in Bitcoin since at least 2015. That was when Tyson launched the first-ever celebrity sponsored crypto project, the “Mike Tyson Bitcoin ATM,” which debuted in Las Vegas. “Iron Mike” also partnered with Bitcoin Direct in 2016 for the “Mike Tyson Digital Wallet,” a crypto storage device. Tyson’s name was also infamously used, without permission, to promote a blockchain platform to promote fighters by a Chinese fraudster named Jianxiang Shi. The Interpol-wanted Shi was also shilling Mike Tyson Crypto tokens before being ordered to cease and desist.
Spencer Dinwiddie, NBA Star:
Dinwiddie, of the Brooklyn Nets, made headlines in 2019 when he requested to have his NBA contract tokenized on a blockchain ledger, allowing investors to grab a piece of his earnings stream. The NBA wasn’t having it, but that didn’t stop the Nets’ point guard. Dinwiddie fought the NBA for months over his plan to tokenize his $34 million contract. He recast the effort as a bond sale, effectively a business loan, that gave Dinwiddie lots of cash up front.
Dinwiddie had first invested in Bitcoin in 2017, through the Coinbase app, and also bought into the altcoin Tron. He once described himself as “just a tech guy with a jumper.” He’s been out of basketball action since December with an ACL tear.
New York Yankees Manager Aaron Boone:
"Oh yeah, these things are definitely real. A lot of our staff members follow Bitcoin each and every day."
Boone was describing the talk that goes on in the Yankees’ locker room and offices on a regular basis. The skipper has also been involved with a company called “Athlete Direct,” which allows players to sell memorabilia and autographed items, along with the authentic Non-Fungible Tokens for the items. Has he invested in Bitcoin? Being coy, Boone confessed to having "dabbled just a little bit" in cryptocurrency.
Athletes and celebrities continue to endorse and invest in Bitcoin and crypto projects. And, when a sports superstar like Tom Brady donned the “Laser Eyes” in his profile (See May 14 issue), the Twitter world took notice. For mass crypto and blockchain adoption, it’s sure to be a boost.
Awesome Podcast Episode of the Week:
Laura Shin’s Unchained, with Rep. Tom Emmer
Best pod I’ve listened to in a while. Absolute Fire! Forbes journalist, blogger and podcast host Laura Shin hosts a great show. And, Congressman Tom Emmer from Minnesota really gets crypto. One of Bitcoin’s biggest proponents in Congress. Laura’s weekly updates were good stuff, too.
From Laura:
77,000 Bitcoins, or $3 billion worth, were bought last week by large holders, aka, “Bitcoin Whales.”
Large holders (“hodlers”) of Bitcoin hit an all-time high.
The takeaway: Bitcoins are moving from short-term traders into the hands of strong, long-term holders. Down into cold storage, reducing supply. Extremely bullish.
From Tom Emmer:
“This is the future. The future has arrived,” on Bitcoin and blockchain.
“Government will hurt itself if it doesn’t partner with innovators. Innovators can and will relocate.”
“Legislators should be a value-add on innovation, not a wet blanket.” Has sponsored the “Eliminate Barriers to Innovation Act.”
SEC regulations were enacted in the 1930’s, when no one could imagine a digital currency. Emmer has sponsored the “Securities Clarity Act” to define digital assets.
Emmer acknowledges a tough road ahead for crypto measures to get through the House Financial Services Committee and Chairwoman Maxine Waters, who remains “skeptical.”
Link to Laura’s Episodes:
Indy 500 - Good showing for the Bitcoin Car!
“The Bitcoin Car,” number 21, driven by Rinus VeeKay, started in the front row of Sunday’s Indianapolis 500 race. VeeKay led the race for several laps, before eventually finishing in eighth place. Team owner Ed Carpenter is a big fan of Bitcoin and wanted to promote mass adoption of the currency. Enlisting several prominent Bitcoin proponents (and a Playboy Playmate) as sponsors, the team gave Bitcoiners quite a thrill, many watching the race for the first time. (I tuned in myself.)
Needless to say, “Bitcoin Twitter” went wild on Sunday, with many crypto fans who couldn’t watch, soliciting updates on Number 21’s placement. Good stuff. The car is appearing at Bitcoin 2021 Miami this week.
Bitcoin 2021 Miami!
The biggest Bitcoin conference in the world comes to Miami, Bitcoin 2021 Miami, Friday and Saturday, June 4 and 5. I’ll be reporting on some of the sessions (watching streaming on Bitcoin Magazine’s web page). An amazing lineup of speakers - Jack Dorsey, Pomp, Michael Saylor, Sen. Cynthia Lummis, Ron Paul, Floyd Mayweather, Sean Culkin, many more.
Issue No. 5 June 4, 2021
Rick Mulvey is a CPA, forensic accountant and crypto consultant. He writes about all things Bitcoin, runs marathons, yells at the Yankees and Giants, and tries to make homemade wine.
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