NFL star OBJ claims it is costly to accept paychecks in Bitcoin 

Odell Beckham found that it is highly costly to accept salary in Bitcoin because of many factors. 

In the present time, the crypto and blockchain industry is at a tremendous level of adoption. Last year, many big celebrities shared their stance on Bitcoin and claimed that they will support Bitcoin by accepting payments and paychecks in Bitcoin. In this list, there are three US mayors and also many sports game players. 

NFL star Odell Beckham Jr (OBJ) signed a deal to accept his $750,000 salary in bitcoin but it costs much for OBJ because of the correction in Bitcoin price and also due to tax rules to accept salary in bitcoin. 

OBJ noted that he received 61% less value than what he was estimated to receive in fiat value. 

These things are disappointing for these types of Bitcoin supporters because a supporter may face problems to a certain limit and after that only frustrations will come. But on the same time, they needed to keep the volatile nature of bitcoin in mind.  

On 12 November 2021, OBJ signed a one-year deal with Los Angeles Rams worth $750,000. Through the promotional twitter post with CashApp, He announced that he is going to receive his salary in Bitcoin. 

Here we can’t perfectly figure out what the actual thing happened with OBJ but here we can expect that Los Angeles Rams purchased Bitcoin at the time of signing the deal and at that time price of Bitcoin was very high and after the tax cost-cutting OBJ found that he received 61% less value of Bitcoins. 

A similar kind of statement has been given by the brother of popular bitcoin influencers Anthony Pompliano, Joe Pomplanio. Joe explained very well how this guy faced this issue with bitcoin payment through a tweet.

Read also: IMF urges El Salvador to take the decision back for Bitcoin adoption