When the Cleveland Browns decided to drop Odell Beckham Jr. from their team, the Los Angeles Rams signed the wide receiver, OBJ opted to take his entire NFL salary in Bitcoin. At the time, Bitcoin was hitting all-time highs and breaking currency records and was even worth approximately $64,000 USD per coin. While it appeared to be a great decision then, Bitcoins dip in the market has shattered the price of the coin.
The cryptocurrency is now worth around half of the aforementioned price, hovering at $35,000 USD. The news of Bitcoin’s price drop is unfortunate for Beckham’s earnings. Darren Rovell reported that his entire salary is now worth only $413,000 USD as opposed to the $750,000 USD, excluding taxes. Once taxes are factored in, OBJ makes around $35,000 USD which equates to just one Bitcoin. Since there is no guarantee if Bitcoin will continue to fall or reach the same heights as prior, it is uncertain if OBJ will benefit in the future. However, it is certain that as of now, OBJ has not received the best of news in regards to his salary.
Take a look at Rovell’s breakdown below.
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