Friday, May 27, 2022

Odell Beckham Jr. Takes Financial Hit After Bitcoin Dip

Odell Beckham
Odell Beckham Jr. (Photo by Patrick Smith/Getty Images)

*We previously reported that when Odell Beckham Jr. signed with the Los Angeles Rams in November, he opted to convert his $750,000 salary into Bitcoin.

At the time, Bitcoin was worth $64,000 per coin. As reported by Hot New Hip Hop, the cryptocurrency is now worth around $35,000, which may not good for Beckham’s earnings. 

READ MORE: Odell Beckham to Get His NFL Bread in Bitcoin / WATCH

Here’s more from the report: 

As reported by Darren Rovell, OBJ’s entire salary is now worth $413K as opposed to $750K. Not to mention, once you factor in taxes, he has only made around $35K, which is enough money for just one Bitcoin. Simply put, OBJ has not benefitted from this decision. Of course, Beckham could simply decide to hold on to his Bitcoin, and perhaps in a year from now, it will go back up. Regardless, nothing is guaranteed, especially in crypto.

Yahoo writes, “It’s worth noting that unless they show us, there’s no way to know precisely how much athletes like Rodgers or Beckham might have gained or lost with their Bitcoin dalliance. There will be a lot of assumptions, but the truth is nobody here is staring at their financials. Instead, people are doing some basic math and then speculating.”

Beckham isn’t the first NFLer to get his bread in this new-fangled form of currency. Back in October, Green Bay Packers star Aaron Rogers announced that he teamed up with Cash App to have a portion of his salary paid in Bitcoin.

Ny MaGee
Ny MaGee is an entertainment reporter with over 15 years of experience working in the film industry in areas including production and post-production, marketing, distribution, and acquisitions. She has worked for legendary film producer Roger Corman, Quentin Tarantino's production team at Miramax, the late Larry Flynt, MTV/ VH1, Hallmark Channel, Paramount, Jim Henson Co., Parade Magazine, and various LA-based companies representing above-the-line talent.

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