American basketball player Andre Iguodala, who plays for the NBA’s Golden State Warriors, tweeted Monday that he will accept bitcoin as a salary.
Andre Iguodala, a three-time NBA champion with an annual salary of $2.647 million, has become the latest celebrity to accept cryptocurrency as a salary.
Iguodala said on his Twitter that Warriors player Klay Thompson and I are both staunch bitcoin supporters. And will withdraw a portion of Bitcoin (BTC) from annual salary withdrawals through Block’s (formerly Square) Cash app.
Iguodala added that he will also give away $1 million worth of BTC to fans to increase cryptocurrency adoption.
Paying salaries in the form of cryptocurrencies seems to have become a trending option, some government officials also choose to use cryptocurrencies as partial or full salary payments.
As reported by Blockchain.News on November 3, Francis Suarez, an American attorney and politician serving as the 43rd Mayor of Miami, announced on Twitter on Tuesday that his next salary will be received in Bitcoin (BTC).
National Football League’s star Odell Beckham Jr has become the latest high-profile athlete to accept his salary in Bitcoin from his team Los Angeles Rams.
Aaron Rodgers, the American football quarterback of the Green Bay Packers of the National Football League (NFL), said on Twitter that he is firmly optimistic about the future of bitcoin and will accept bitcoin as part of his salary.
On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency’s adoption. Payments were said to be facilitated by Block’s (formerly Square) Cash App.
I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp
— andre (@andre) January 10, 2022
Iguodala joins the growing list of celebrities, athletes, influencers, and government officials that are doing the same. At least seven NFL players are currently choosing crypto over cash salaries. Last year, Mayor of Miami Francis Suarez and New York City Mayor Eric Adams said they would take their paychecks in BTC, with Suarez taking it up a notch by investing in BTC with his 401(k) retirement savings as well.
Taking paychecks in BTC or other crypto could potentially benefit both employers and employees alike. For starters, companies with large percentages of international workers would not need their staff’s private banking information, nor have to make costly, slow turnaround wire transfers to make payments. In addition, it saves employees the trouble of moving their fiat funds to crypto exchanges for investments as they can readily swap the digital currencies they receive for the one they wish. Volatility issues are also easily resolved. Employees who are skeptical or bearish on coins’ near-term movements can simply exchange their crypto paycheck to stablecoins the instant they receive them via a wallet or exchange.