New York Giants running back Saquon Barkley is one of the league’s most exciting—and marketable—players. Today, he made an incredibly bold call on his financial future, announcing that he’ll be taking 100-percent of his money from future endorsement deals in Bitcoin.
He is not the first athlete to make a big play with cryptocurrency. Late last year, Carolina Panthers offensive tackle Russell Okung elected to use half of his $13 million annual salary to buy Bitcoin, two years after tweeting his desire to be paid in the cryptocurrency. He is currently a free agent, so it is unclear if he’ll continue a similar arrangement in the future.
Barkley is a top-flight NFL name, even compared to a two-time Pro Bowler like Okung. His decision to jump this far into the cryptocurrency world is extremely notable. He already has contracts with Nike, Pepsi, Visa and Dunkin’ Donuts, among other companies, so this could wind up being an extremely lucrative decision.
He made the announcement on Anthony Pompliano’s The Best Business Show on YouTube. He cites his desire to create generational wealth for himself, something he’s not able to do playing an injury-prone position in the NFL. After sitting out for a year due to a torn ACL, he made this bold call for his future.
“You see where you are able to go on the draft board and you know that you can break that curse in your family, of creating wealth in your family. You start thinking what can I do and what is the safest way. Obviously, I want to be more than a football player,” Barkley said, via The Street.
“When you see the KD’s (Kevin Durant), the LeBrons (James) and (Tom) Bradys of the world and you want to create generational wealth, you can’t do that with the sport that I play and the position that I play and coming off of injuries. When you sit out of football for a whole year you realize that this game could be taken away from you.”
We’ve seen a wide range of reactions to Barkley’s move. Obviously, the crypto fans and investors out there love it, while there are some who are unsurprisingly skeptical.
BREAKING: Saquon Barkley has announced on The Best Business Show that he is taking 100% of his endorsement money in Bitcoin going forward.
That's more than $10 million annually.
What a legend. pic.twitter.com/6gpQBewgMv
— Joe Pompliano (@JoePompliano) July 14, 2021
— Boardroom (@boardroom) July 14, 2021
JUST IN: @saquon will take 100% of his endorsement money in Bitcoin
— Yano (@JasonYanowitz) July 14, 2021
I’m legit confused as to how this qualifies as legendary. https://t.co/sUbdit4s5P
— Darren Rovell (@darrenrovell) July 14, 2021
— JimProeller (@AccuJimProeller) July 14, 2021
Saquon Barkley cites inflation as a major concern as he makes this big shift towards Bitcoin. Of course, this embrace of Bitcoin is a risk in and of itself. While it has seen incredible value gains in recent years, it is very volatile, and no one can be sure exactly how the market will progress in the coming years.
If it works out, however, Barkley should be set for a very long time.
[The Best Business Show via The Street]