The worlds of professional sports and cryptocurrency are increasingly intersecting. High-profile athletes from the NBA and NFL are not only endorsing crypto brands but are also choosing to receive portions of their substantial salaries in digital assets like Bitcoin. This trend highlights a growing belief among sports elites in the future of decentralized finance and digital stores of value.
From early adopters to recent converts, these players are making significant financial moves that go beyond traditional investments. Their actions often draw public attention, bringing mainstream visibility to the crypto space. Here’s a look at some of the most notable NFL and NBA figures who have openly embraced cryptocurrency investments.
Spencer Dinwiddie: The Crypto Pioneer
Spencer Dinwiddie of the Dallas Mavericks is widely regarded as one of the earliest cryptocurrency proponents in the NBA. Introduced to Bitcoin in 2014, he initially hesitated due to the league's history of risky investment stories. However, as Bitcoin’s value surged, he began seriously investing during the 2017 season.
Dinwiddie often checked crypto markets via apps like Coinbase even before games. His timing proved fortunate—Bitcoin’s price tripled during that season. He also invested in altcoins like Tron, reportedly earning fivefold returns upon exit.
In a groundbreaking move, Dinwiddie attempted to tokenize his NBA contract, creating SD8 tokens—though the initiative didn’t meet its funding goals. He co-founded Calaxy, a creator-focused social marketplace, which has raised over $33.5 million. While he hasn’t disclosed exact crypto holdings, estimates suggest his portfolio could be worth nine figures.
Klay Thompson and Andre Iguodala: The Golden State Believers
Klay Thompson and Andre Iguodala, both former Golden State Warriors teammates, are strong Bitcoin advocates. Thompson has stated he invests in Bitcoin because he believes it is "the future of money."
In 2022, after Thompson’s return from injury, both players partnered with Cash App to convert part of their salaries to Bitcoin. They also donated $1 million worth of BTC to fans. Iguodala, a known tech investor, has been particularly vocal, calling Bitcoin "the future."
Given their contract sizes—Thompson earned around $40 million that season—their Bitcoin acquisitions are likely substantial. Iguodala’s investment is estimated to be around $2.65 million based on disclosed conversions.
Cade Cunningham: The Thoughtful Rookie
Detroit Pistons’ star Cade Cunningham showed his forward-thinking approach by partnering with BlockFi shortly after being drafted in 2021. His partnership included receiving a signing bonus in Bitcoin directly into his BlockFi account.
Cunningham expressed his belief in cryptocurrency’s "ease of use and democratic foundation." Although BlockFi later filed for bankruptcy, reports indicated that Cunningham’s crypto bonus was relatively small compared to his cash endorsement fees. With a recent $224 million contract extension, his crypto investments are likely a minor part of his overall portfolio.
Tyrese Haliburton: The Strategic Holder
Indiana Pacers’ point guard Tyrese Haliburton first explored cryptocurrency during his college years. He initially invested in Ethereum, primarily for NFT transactions, and has since expressed interest in Bitcoin as a "blue-chip" crypto asset.
Haliburton mentioned he doesn’t day-trade due to his busy schedule but has considered allocating part of his contract to crypto trading, possibly with his brother’s help. After signing a $260 million extension, he has the financial flexibility to explore larger crypto investments.
Russell Okung: The Bitcoin Salary Trailblazer
Russell Okung made headlines in 2020 by announcing he would receive half of his $13 million salary in Bitcoin. Although NFL teams pay in dollars, Okung used a partnership with Strike to facilitate the conversion.
Okung has remained steadfast in his belief in Bitcoin, even during market downturns. If he held the Bitcoin purchased with half his 2020 salary, it would be worth over $20 million today.
Trevor Lawrence: The Endorsement Deal
Trevor Lawrence, the Jacksonville Jaguars’ quarterback, signed an endorsement deal with FTX in 2021 that included receiving his signing bonus in cryptocurrency. His portfolio reportedly included Bitcoin, Ethereum, and Solana.
Despite rumors of massive losses during the crypto winter, Lawrence clarified that his NFL signing bonus was separate from his FTX deal. He received $500,000 from FTX before its collapse.
Saquon Barkley: The Full Crypto Endorsement
New York Giants’ running back Saquon Barkley announced in 2021 that he would convert 100% of his endorsement income—estimated at over $10 million annually—into Bitcoin via Strike. He cited inflation and wealth preservation as key reasons for his decision.
Aaron Rodgers: The Cash App Partnership
Green Bay Packers quarterback Aaron Rodgers partnered with Cash App in 2021 to convert an undisclosed portion of his salary into Bitcoin. He also donated $1 million worth of Bitcoin to promote crypto adoption.
Odell Beckham Jr.: The Super Bowl Winner
Odell Beckham Jr. joined the trend in 2021, converting his entire salary with the Los Angeles Rams into Bitcoin through Cash App. After winning the Super Bowl that year, his earnings—including incentives—made his crypto conversion even more substantial.
Sean Culkin: The All-In Advocate
Kansas City Chiefs tight end Sean Culkin became the first NFL player to announce he would convert his entire salary—$920,000—into Bitcoin. Although he was released shortly after and may not have received the full amount, his commitment to Bitcoin remains evident through his social media presence.
Frequently Asked Questions
Why are athletes investing in cryptocurrency?
Many athletes see cryptocurrency as a hedge against inflation and a potential store of value. Its decentralized nature and growth potential make it an attractive addition to traditional investments.
How do players convert their salaries to Bitcoin?
Most use third-party services like Cash App or Strike. These platforms convert USD payments into Bitcoin instantly, allowing athletes to hold crypto without manual intervention.
What risks are involved?
Cryptocurrency is highly volatile. Prices can fluctuate dramatically, leading to significant gains or losses. Unlike traditional assets, crypto is also less regulated, which may pose additional risks.
Are there tax implications?
Yes, receiving salary in cryptocurrency is taxable in most jurisdictions. The converted amount is considered income at the fair market value on the day of receipt.
Which cryptocurrencies do athletes prefer?
Bitcoin is the most common choice due to its recognition and relative stability. Some, like Haliburton, also invest in Ethereum or other altcoins.
Can fans invest similarly?
Yes, many platforms allow users to regularly convert fiat to cryptocurrency. However, it’s essential to research and understand the risks before investing. To explore reliable conversion methods, consider starting with small, manageable amounts.
The involvement of high-profile athletes in cryptocurrency is more than a trend—it’s a sign of shifting attitudes toward money and investment. As these players demonstrate, crypto is becoming an integral part of diversified financial portfolios.