Odell Beckham Jr. has reportedly netted a shockingly small amount of money playing for the Rams.
According to Darren Rovell, OBJ took his $750,000 deal in Bitcoin when he signed with the franchise. When he signed, BTC was worth more than $64,000. (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
Now, it’s worth way less than $40,000. Rovell reported that OBJ was taxed on the $750,000, and with the crashing price of BTC, he’s only netted $35,703 from the deal.
The amount of people applauding players changing their salary into Bitcoin as if they were heroes has been comical.
Rams WR Odell Beckham Jr., at least in the moment, provides a cautionary tale. pic.twitter.com/uW0QDdJrYy
— Darren Rovell (@darrenrovell) January 23, 2022
I know a lot of people who are all in on crypto. They think it’s the future and they might turn out to be correct.
I have no idea. What I do know is that the value of an American dollar doesn’t get cut in half over the course of a couple months.
OBJ with an absurd catch 🤯
(via @NFL)
pic.twitter.com/cyCC7TMXzA— Bleacher Report (@BleacherReport) January 23, 2022
That’s just a fact, and these athletes converting their contract payouts to BTC seems insanely risky. At least when you get paid in American currency, you know there’s stability.
The price of BTC and other cryptocurrencies has plummeted recently. Why risk it, especially when you’re dealing with such large amounts?
.@obj and the Rams were HYPED in the locker room after the win‼️
(via @_Real24_) pic.twitter.com/M6XLAWfcc0
— SportsCenter (@SportsCenter) January 24, 2022
It makes no sense at all. OBJ was supposed to make $750,000 in base salary, and he’s now netted an amount that can’t even buy you a nice truck.
That’s one hell of a tough break!
OBJ converts on first and 20 💨
(via @NFL)pic.twitter.com/FykU2kJbVD
— SportsCenter (@SportsCenter) January 23, 2022
Let me know your thoughts on his decision in the comments below.