Bitcoin In Sports And The Future

ADS



Bitcoin has experienced seismic growth in the past few months: its price has risen dramatically since January 2021 and is expected to continue to trend upward. This growth underscores bitcoin’s massive potential as an investment asset. For this reason, pro athletes and major sports clubs are capitalizing on Bitcoin. For instance, Russell Okung, a Carolina Panthers offensive tackle, recently became the first NFL player to receive a salary in bitcoin.

In this article, we will explore the future of Bitcoin in sports. But first, why are pro athletes shifting to investing in bitcoin?

Why Pro Athletes Are Investing In Bitcoin

1. To Have More Control Over Their Wealth

Bitcoin gives athletes more control over their money by cutting intermediaries. Many athletes have endorsements and corporate sponsorship deals. The agencies that manage these deals end up taking a significant amount of money.

By using bitcoin, athletes can enter deals without necessarily going through middlemen services like the kind agents offer. These endorsements involve large amounts of money. Using bitcoin for payment helps to avoid high taxation as the capital gain’s rate can sometimes be lower than ordinary income tax, depending on your jurisdiction.



Source link Bitcoin Magazine

ADS

Be the first to comment

Leave a Reply

Your email address will not be published.


*