Andre Iguodala and Klay Thompson, two of the Golden State Warriors’ best talents, have joined the BTC bandwagon by announcing that they will get their salary in the currency via a CashApp collaboration.
Andre Iguodala, a three-time NBA champion and professional basketball player for the Golden State Warriors, said on Twitter on Monday afternoon that he would be accepting Bitcoin for a portion of his estimated $2.647 million annual salary (BTC).
In addition, Iguodala stated that he will give away $1 million in Bitcoin to fans in order to boost the use of the digital currency. Block’s (previously Square) Cash App was said to make payments easier.
Thompson confirmed his participation in the campaign shortly after, posting a video of himself and Iguadola on social media. The Golden State Warriors’ duo declared themselves as “believers in bitcoin” who want to “make bitcoin more accessible.”
Iguodala And Many Other Athletes Accepting Crypto Payments
Iguodala joins an ever-growing list of celebrities, sportsmen, influencers, and political officials who have taken similar steps. At least seven NFL players are currently opting for cryptocurrency over traditional pay.
Last year, Miami Mayor Francis Suarez and New York City Mayor Eric Adams announced that they would accept BTC as payment for their services, with Suarez taking it a step further by putting his 401K retirement assets in BTC as well.
Taking BTC or other crypto as a form of payment might benefit both businesses and employees. For starters, businesses with a high proportion of overseas employees would no longer require their employees’ private banking information or the use of expensive, slow-turnaround wire transfers to make payments.
Furthermore, it would spare employees the effort of transferring their fiat cash to crypto exchanges for investing purposes because they would be able to easily switch the digital currencies they get for the ones they want. Volatility concerns can also be remedied quickly. Employees who are dubious or negative on the near-term swings of cryptocurrencies may easily switch their crypto salary to stablecoins as soon as they get it via a wallet or exchange.
Meanwhile CashApp introduces Lightning network for faster and efficient bitcoin transactions for its users.
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