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

On Monday afternoon, Andre Iguodala, three-time NBA champion {and professional} basketball participant for the Golden State Warriors, introduced by way of Twitter that he can be taking a portion of his estimated $2.647 million annual wage in Bitcoin (BTC). As well as, Iguodala added that he’ll give out $1 million price of BTC to followers to extend the digital forex’s adoption. Funds have been mentioned to be facilitated by Block’s (previously Sq.) Money App.

Iguodala joins the rising listing of celebrities, athletes, influencers and authorities officers who’re doing the identical. At the least seven NFL gamers are at present selecting crypto over money salaries. Final yr, Miami Mayor Francis Suarez and New York Metropolis Mayor Eric Adams mentioned they’d 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 effectively.

Taking paychecks in BTC or different crypto might doubtlessly profit each employers and workers alike. For starters, corporations with massive percentages of worldwide employees wouldn’t want their workers’s non-public banking info, nor must make pricey, slow-turnaround wire transfers to make funds. As well as, it might save workers the difficulty of transferring their fiat funds to crypto exchanges for investments as they will readily swap the digital currencies they obtain for the one they want. Volatility points are additionally simply resolved. Staff who’re skeptical or bearish on cash’ near-term actions can merely trade their crypto paycheck to stablecoins the moment they obtain them by way of a pockets or trade.

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