Andre Iguodala joined the crypto-currency party when he signed with a blockchain startup. Now in addition to his NBA salary, he will make money from endorsements and investments.
Andre Iguodala is an NBA champion, who has won 3x NBA titles. He has also been paid in crypto for his recent investments.
Andre Iguodala, a three-time NBA champion and professional basketball player for the Golden State Warriors, said on Twitter on Monday afternoon that he would be accepting Bitcoin for a part of his estimated $2.647 million yearly salary (BTC). In addition, Iguodala said that he would give away $1 million in Bitcoin to fans in order to boost the use of the digital currency. Block’s (previously Square) Cash App was claimed to make payments easier.
I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp
January 10, 2022 — andre (@andre)
Iguodala joins a growing number of celebrities, sportsmen, influencers, and government figures who have taken similar actions. At least seven NFL players are presently opting for cryptocurrency over traditional pay. Last year, Miami Mayor Francis Suarez and New York City Mayor Eric Adams announced that they would accept BTC as payment, with Suarez taking it a step further by investing his 401(k) retirement funds in BTC as well.
Taking BTC or other crypto as a form of payment might benefit both businesses and workers. For starters, businesses with a high number of overseas employees would no longer need their employees’ private banking information or the use of expensive, slow-turnaround wire transfers to make payments. Furthermore, it saves workers the effort of transferring their fiat cash to crypto exchanges for investing purposes since they can easily convert the digital currencies they get for the ones they want. Volatility concerns may also be remedied quickly. Employees who are dubious or negative on the near-term swings of cryptocurrencies may easily switch their crypto salary to stablecoins as soon as they get it through a wallet or exchange.
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