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.
It's kinda rare to find some company that will pay in BTC, maybe in the future and if BTC became more consistent, more companies will try to do the same. IMO, you still need to convert it to fiat since you need spend it for daily needs but I think it's better if your commission or maybe partial of your salary is in BTC while the others are fiat. I think it's very efficient in that way, you're diverse already and nothing to worry about losing money, you're also financially secured since you have a global asset that has potential to grow for years. You don't have the pressure to when you'll sell or hodl since you're receiving it monthly, you just need to be wise for an efficient or profitable sell.