NFL star Odell Beckham Jr. may be having the last laugh against critics of his decision to take his salary in Bitcoin.
When Beckham opted to convert his 2021 base salary of $750,000 from the Los Angeles Rams to Bitcoin as part of an endorsement deal with the Block-owned (NYSE:XYZ) Cash App, critics were quick to argue that he was making a mistake. These critics only grew louder as a market crash ensued the following year, which saw Bitcoin lose nearly 80% of its value.
“Sooooo Bitcoin is at an ALL TIME high today...safe to say we still happy with our decision,” he said on X on July 14 as the asset surged to record highs above $120,000.Even if you are not earning $750,000 and you are not rich enough to put all your salary into investment yet, accepting bitcoin for your salary sounds a good deal. Some people are worried about the fluctuations in the market but as long as the employer gives you the equivalent amount of btc in usd, I think there should be no problems, am I not right? The good thing is if you are planning to put your salary in bitcoin to invest, you do not need to convert it into bitcoin since it was given to you in bitcoin already.
Well, if given the option to choose, I may not opt to receive my salary in bitcoin due to several reasons, I will rather opt that my pension fund be paid in bitcoin for as long as I work in that company, and this is because my pension fund is a fund I don't and won't have access to until I am atleast 50 years old of age, I stand to benefit more here than having my salary paid in bitcoin which I will still be needing to convert a chunk of it, if not all back to fiat for household spending or expenditures.
The only way I am going to accept that my salary be paid in bitcoin is only if I have something else doing that I am generating enough money from to ensure that I usually don't touch my salary, then paying me in bitcoin would be absolutely good since I will leave the bitcoin there in my wallet as an investment and allow it to accumulate.