Triple NBA champion Andre Iguodala can be paid in crypto

On Monday, Andre Iguodala, three-time NBA champion and professional basketball player for the Golden State Warriors, announced on Twitter that he would receive a portion of his estimated annual salary from $ 2.647 million in Bitcoin (BTC) receive. Iguodala added that he will be distributing $ 1 million worth of BTC to his fans to help promote the adoption of the digital currency. The payments are to be processed via the Cash app from Block (formerly Square).

I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp

– others (@andre) January 10, 2022

Iguodala is not the only one among celebrities, athletes, influencers and government officials who can be paid in Bitcoin. At least seven NFL players currently receive crypto instead of cash as their salary. Last year, Miami Mayor Francis Suarez and New York City Mayor Eric Adams announced they had theirs Salaries in BTC would receive. Suarez even went a step further and also invests in BTC for his pension.

Employers and employees could equally benefit from a payout in BTC or other cryptocurrencies. Companies with many international employees, for example, no longer need their employees’ private bank details, nor do they have to make expensive and tedious transfers to pay their salaries. It also saves workers the trouble of having to transfer their money to invest in crypto exchanges, as they can simply exchange the digital currencies they receive into the currency they want. The problem of volatility is also easy to solve. Employees who are skeptical or pessimistic about the short-term development of the coins can simply exchange their crypto paychecks for stablecoins as soon as they receive their salary via a wallet or exchange.