Sign Up for Sports World News’ Newsletter and never miss out on our most popular stories.
News circulated that Carolina Panthers’ Russell Okung became the first NFL player to be paid in bitcoin. The truth is, Okung only spent 50 percent of his salary on it. (Photo : Grant Halverson/Getty Images)
The news spread like wildfire, and the majority of the reports claimed the very same thing.
The headlines erupted following the cryptocurrency trend about Carolina Panthers lineman Russell Okung. Several headlines came out and reported that Okung is the first NFL player to be paid in bitcoin. However, that was not really the case.
Sports and tech news sites bannered Okung’s spectacular feat, and so did mainstream media channels. They reported that the 32-year-old offensive tackle got his salary through bitcoin, but a spokesperson from the NFL revealed the inaccuracy of the reports.
“Not accurate,” an NFL spokesperson told The Verge’s, Sean Hollister. The unnamed spokesperson added that what Okung did was just like what other football players from the NFL do. Russell Okung is only converting a portion of his salary into a bitcoin after he receives his compensation.
According to the Coindesk report, Russell Okung allowed a half-conversion of his $13 million salary to the said cryptocurrency. This could be fresh news for the fans, but considering that Okung embraced the cryptocurrency culture, he would be enjoying a chunk of financial incentive.
The Carolina Panthers confirmed the same thing, and they pay the football players in U.S. dollars.
In that manner, the ‘paid in bitcoin’ trend can be applied to anyone who is earning a salary. It would make sure that for it to happen, a person will just buy a bitcoin by paying with his/her salary upon arrival. Okung’s preferred bitcoin application, Zap, was the prime example of the cryptocurrency app where a salary-bitcoin relation takes place.
Some wondered how Okung landed on Zap, wherein, in the first place, the setup does not allow direct deposit.
Russell Okung, who donned a #76 football jersey, wrote a tweet about bitcoin on May 14, 2019. On Tuesday, Okung updated his tweet that he was paid in bitcoin.
“Money is more than currency; it’s power. The way money is handled from creation to dissemination is part of that power. Getting paid in Bitcoin is the 1st step of opting out of the corrupt, manipulated economy we all inhabit,” Okung spoke.
Okung may not reveal his bond with Zap, but Zap founder Jack Mallers called him a friend.
Russell Okung was not the first professional athlete to invade the cryptocurrency club. According to Yahoo, Spencer Dinwiddie, who was a point guard of the Brooklyn Nets, has hit 10 percent of his $13.5 million goal in July this year. Some players from the New York Yankees obtained their salaries in bitcoin.
Having headlines like “Okung became the first NFL player to be paid in Bitcoin” will surely ignite more views for the media websites. Not only that, such a headline will hint at a strong desire for the investors but having a headline with “Okung spends 50 percent of his salary in bitcoin” will ring like typical news from a tech page.
It is truly a wonderful thing how bitcoin became an innovative payment network for the people. For the next years, we could only think of the subsequent improvement of virtual money.
READ MORE ON SWN:
© 2018 Sportsworldnews.com All rights reserved. Do not reproduce without permission.