Trevor Lawrence is shedding a fortune due to Bitcoin

Trevor Lawrence is shedding a fortune due to Bitcoin

(Photograph by Carmen Mandato/Getty Photographs)

Editor’s Be aware: After publishing this text, extra info got here to gentle. Trevor Lawrence obtained a signing cousin in crypto from an funding app. Subsequently, his $24 million signing bonus from the NFL was not included, as studies indicated. Learn on if you wish to see our preliminary shock on the extensively reported preliminary story.

Some NFL gamers embraced cryptocurrencies like Bitcoin so enthusiastically that they requested for a portion of their wage to be transformed into digital forex.

Sadly, costs have dropped with the value of Bitcoin falling drastically in current months.

It’s nowhere close to the excessive costs that attracted extra individuals to build up their cash on-line.

Sadly, those that opted into Bitcoin of their contracts should be feeling the pinch, as NFL insider Dov Kleiman shared.

He shared an inventory of sports activities stars who suffered the most important wage losses and 5 of them are NFL gamers.

New York Giants operating again Saquon Barkley requested for $10 million price of Bitcoin in his contract in July 2021.

Sadly, that worth has since dropped 33.4 p.c to $6.6 million.

Odell Beckham Jr.’s $750,000 price of Bitcoin has additionally plummeted to $434,976.

In the meantime, Russell Okung misplaced 60.9 p.c of his Bitcoin worth from $6.5 million to $2.54 million.

Then there’s Sean Culkin, who misplaced 61.6 p.c, from $920,000 to $353,099.

Trevor Lawrence is the most important loser

However these numbers are nothing in comparison with what Jacksonville Jaguars quarterback Trevor Lawrence misplaced.

On Could 2, 2021, he had $24 million price of Bitcoin, Ethereum, and Solana.

Since then, the worth has dropped by 62.7 p.c to $8.96 million.

It is nonetheless an enormous quantity in comparison with what the opposite gamers nonetheless have.

Sadly, there is no such thing as a indication that costs will stabilize or rise.

The cryptocurrency market continues to be risky and you’ll find yourself with large sums of fortune immediately.

Whereas it’s important to commend them for staying with the tendencies, it could nonetheless be higher to take the cash and never the cryptocurrency.

Proponents of Bitcoin and the like proceed to painting digital currencies as the longer term.

If that is the case, the longer term would not look shiny for Lawrence, Okung, Beckham and others.

They don’t have any alternative however to just accept what the market dictates, for higher or worse.

Leave a Reply

Your email address will not be published.