3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

On Monday afternoon, Andre Iguodala, three-time NBA champion and the skilled basketball participant for the Golden State Warriors, introduced by way of Twitter that he could be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he’ll give out $1 million price in BTC to followers to enhance the digital foreign money’s adoption. Payments had been stated to be facilitated by Block’s (previously Square) Cash App.

Iguodala joins the rising checklist of celebrities, athletes, influencers, and authorities officers which are doing the identical. At least seven NFL gamers are presently selecting crypto over money salaries. Last yr, Mayor of Miami Francis Suarez and New York City Mayor Eric Adams stated they might take their paychecks in BTC, with Suarez taking it up a notch by investing in BTC along with his 401(ok) retirement financial savings as nicely.

Taking paychecks in BTC or different crypto may probably profit each employers and workers alike. For starters, corporations with giant percentages of worldwide employees wouldn’t want their workers’s personal banking info, nor have to make expensive, sluggish turnaround wire transfers to make funds. In addition, it saves workers the bother of shifting their fiat funds to crypto exchanges for investments as they will readily swap the digital currencies they receive for the one they want. Volatility points are additionally simply resolved. Employees who’re skeptical or bearish on cash’ near-term actions can merely alternate their crypto paycheck to stablecoins the on the spot they receive them by way of a pockets or alternate.