Odell Beckham Jr. Loses Majority Of His Salary After Bitcoin Dip

BYAlexander Cole36.3K Views
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Odell Beckham Jr.

OBJ is a cautionary tale for the volatility of Bitcoin.

Odell Beckham Jr. was picked up by the Los Angeles Rams earlier this season as the Cleveland Browns decided to drop him from the team. This was a decision that benefitted everyone involved, as the Browns got rid of a player who didn't want to be there, all while the Rams got themselves a bonafide weapon who has so far, been instrumental to their playoff run which will have them in the NFC Championship Game this weekend.

When OBJ signed on the dotted line, he opted to take his entire salary into Bitcoin. When he did this, Bitcoin was in the midst of breaking new all-time highs, and was worth $64,000 per coin. This seemed like it could be a good investment, however, a local top came quickly and ultimately shattered the price of Bitcoin.

Odell Beckham Jr. Loses Majority Of His Salary After Bitcoin Dip
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Now, the cryptocurrency is worth around $35,000, which is not good for Beckham's earnings. As reported by Darren Rovell, OBJ's entire salary is now worth $413K as opposed to $750K. Not to mention, once you factor in taxes, he has only made around $35K, which is enough money for just one Bitcoin. Simply put, OBJ has not benefitted from this decision. Of course, Beckham could simply decide to hold on to his Bitcoin, and perhaps in a year from now, it will go back up. Regardless, nothing is guaranteed, especially in crypto.

With Bitcoin's volatility becoming a huge factor right now, we could see fewer and fewer athletes going the OBJ and Aaron Rodgers route. Let us know what you think of this predicament, in the comments section below.

About The Author
Alexander Cole is the current Managing Editor of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. During this time, he has shown an expertise in Air Jordans, Yeezys, and all things that have to do with Nike. His favorite kicks are the Air Jordan 1 High OG, the Air Jordan 4, the Air Jordan 6, and the Adidas Yeezy Boost 350 V2 in the "Beluga 2.0" colorway. Although his collection might not be the biggest, he is always looking to add new styles to it. When it comes to sports, Alex has a particular interest in the NBA and the NFL. His favorite teams are anywhere LeBron goes, and the Kansas City Chiefs. As a Montrealer, the Montreal Canadiens hold a special place in his heart, even if they haven't won the Stanley Cup in his lifetime. Alex also works for the Concordia Stingers, where he provides play-by-play and color commentary for the football, hockey, and basketball teams His favorite hip-hop artists are Kendrick Lamar, Playboi Carti, Travis Scott, and Lil Uzi Vert.