Odell Beckham Jr. previously signed a contract with the Los Angeles Rams that was worth $750,000 and in a bold move noted that he would take his salary in bitcoin. Now, it has been revealed the NFL player has only netted $35,703 due to the volatile fluctuations of the cryptocurrency.
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
The news was reportedly by Darren Rovell, who pointed out details in OBJ’s situation. Via Twitter, Rovell said “At the time, [of OBJ signing his contract] Bitcoin was worth $64,293. Today it is worth $35,400.” From there, Rovell broke down how much the deal is worth, saying Beckham’s deal is only worth $412,913 at the moment. Rovell continued saying “Odell will be taxed on $750,000. Federal & CA state tax will be 50.3%. That means Odell, as of now has netted $35,703.” Beckham still may be able to get the full worth of his contract, as the volatility of the coin finds the price moving in either direction regularly. Stay tuned for more updates.
Source: Twitter.com
