Ex-NFL Player’s Bitcoin Choice Turns $6.5M Salary into $21M Payout
Russell Okung acquired 240 BTC for half his $13 million salary in 2020. Four years later, the value of his investment is over $21 million.
In 2020, former Carolina Panthers offensive tackle Russell Okung made headlines by negotiating to have half of his $13 million NFL contract for the 2020 season paid out in Bitcoin.
Today, that move has paid off, with the value of Okung’s BTC now estimated at $21 million, thanks to the recent surge in the asset’s prices.
$21 Million Payout
While he was not paid in cryptocurrency, the Panthers converted $6.5 million of his salary through Strike, a financial service from Zap that facilitated the purchase of Bitcoin with his funds. This move made Okung one of the first high-profile professional athletes to receive a substantial portion of his income in Bitcoin.
The digital asset was trading at around $27,000 at the time of his investment. With his $6.5 million, Okung acquired approximately 240 BTC, a move viewed as a significant financial risk since the cryptocurrency was still in a growth phase and was known for its volatile price swings.
In late 2022, the cryptocurrency experienced one of its more severe downturns, dropping to around $17,000. This means the 36-year-old’s investment temporarily lost significant value, decreasing to around $4.08 million. Nevertheless, Okung opted to hold onto his stash.
Following the U.S. presidential election in November 2024, BTC prices surged dramatically, reaching an all-time high of over $83,000. As of this week, bitcoin is around $88,000, raising the value of Okung’s initial 240 BTC to approximately $21.36 million.
This increase effectively boosts the total worth of his Panthers contract to around $27.8 million, meaning Okung’s decision to invest half his salary in Bitcoin has led to an additional $14.8 million in value.
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