Beckham was recently released from his contract with the Cleveland Browns, and then signed with the Rams for a $500,000 signing bonus, along with a $750,000 base salary.
Via his Twitter account, he has also pledged to give back “a total of $1M in BTC rn too.”
Alongside New York City Mayor-elect, Eric Adams and Miami Mayor Francis Suarez, Beckham is the latest high-profile celebrity to opt to be paid in cryptocurrency.
Don’t be surprised if you see more of this in the near future.
“The number of people accepting bitcoin for their salary reflects a growing trend in the market. As more individuals see crypto (and Bitcoin specifically) as a hedge against inflation, the adoption of digital currencies may help it become more mainstream,” says Micah Carnahan, a crypto expert at Finder.
“Taking a salary in bitcoin doesn’t come without risks, however,” says Carnahan. “Steep price declines and heavy volatility in the market should be carefully measured by anyone considering being paid in cryptocurrency. Current bitcoin prices have fallen over 10% in the last week alone. Still, current forecasts remain generally bullish.”
Carnahan thinks that it’s too early to tell if Beckham’s option for Bitcoin “can help stop the current slide in market prices.”
But he adds that either way, “this may turn out to be a great time for Beckham to have signed his deal."
"Not only will Beckham maximize the amount of bitcoin he earns with its slightly lower market price, but with the recent news of his family expanding, the chance to earn long-term profits from his BTC salary may help secure the future for the newest member of his family," Carnahan said.
"Lauren Wood, Odell Beckham’s girlfriend, recently revealed her pregnancy on Instagram. It seems that congratulations are in order for both of these recent developments!”