Odell Beckham Jr.'s Bitcoin Bet Pays Off Amid Market Surge

November 14, 2024
Odell Beckham Jr.'s Bitcoin Bet Pays Off Amid Market Surge
  • While it's unclear if Beckham has kept his entire Bitcoin holding, his social media activity suggests he remained committed during market fluctuations.

  • During his time with the Rams, Beckham earned a total of $4.25 million, which included a base salary of $750,000, a $500,000 signing bonus, and $3 million in performance incentives after their Super Bowl victory.

  • Odell Beckham Jr., currently a member of the Miami Dolphins, is making headlines for his financial decisions rather than his on-field performance.

  • He recently reminded fans on social media about his choice to receive a $750,000 salary from the Los Angeles Rams in Bitcoin, which he converted in November 2021 when Bitcoin was valued at $64,293.

  • Despite facing significant losses during the crypto winter of 2022, when his holdings dropped to $401,500, Beckham's investment has rebounded due to the current rally.

  • At the time of signing, Bitcoin's price had doubled in the four months prior, showcasing the cryptocurrency's volatility.

  • Since then, Bitcoin has surged to an all-time high, surpassing $90,000, confirming that Beckham's investment was a wise move.

  • If Beckham decides to sell his Bitcoin, he would face capital gains tax in addition to income tax on his converted salary.

  • If Beckham retained his Bitcoin, his investment could have grown significantly, potentially turning his $750,000 salary into over $1 million.

  • Beckham's tenure with the Rams was marked by a Super Bowl victory, although he suffered a torn ACL during the game against the Cincinnati Bengals.

  • The recent rise in Bitcoin's value has been attributed to political shifts, particularly President-elect Donald Trump's pro-crypto agenda.

  • Despite the current success of some athletes in cryptocurrency investments, the market remains highly volatile, as evidenced by past collapses like that of Terra.

Summary based on 5 sources


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