Despite Doubts, NFL Star Odell Beckham Jr.'s 2021 Bitcoin Investment has Done Very Well
Odell Beckam Jr.'s highly criticized bitcoin investment has earned the NFL star nearly three times more than he would have taken home had he left his salary in cash.
In 2021, Beckham converted his $750,000 LA Rams base salary to Bitcoin. This move was connected to an endorsement deal with the Block-owned (NYSE:XYZ) Cash App. According to Yahoo News, criticism of Beckam opting to convert his salary to Bitcoin increased the following year when the market crashed and Bitcoin lost nearly 80% of its value.
At the time Beckam bought in, Bitcoin traded near $60,000. Recently, the asset has been trading at $118,000. That is up 96%.
Assuming that the NFL star kept all his BTC through the crash and recent upswing, and not including taxes, Beckham would still be left with over $1.1 million. Yahoo News reported that his yield is nearly three times more than he would have taken home had he left the salary in cash.
It’s safe to say Beckam is happy with his decision.
