If retired Carolina Panthers player Russell Okung held onto the 240 Bitcoin purchased in lieu of half of his 2020 salary until today, he would be sitting on over $20.9 million. If.
Chances are, he’s sitting pretty: In May 2021, amid a decline in Bitcoin’s value, Okung reaffirmed his commitment to the crypto, stating on Twitter at the time, “Y’all don’t get it. I am not selling my Bitcoin, ever.”
Since then, he has not publicly disclosed any changes to his Bitcoin investment strategy. Decrypt has reached out to Okung on that point.
In December 2020, Okung generated headlines when he announced he would take half of his $13 million salary, about $6.5 million, in Bitcoin.
“Money is more than currency; it’s power,” Okung told CNBC at the time. “The way money is handled from creation to dissemination is part of that power. Getting paid in bitcoin is the first step of opting out of the corrupt, manipulated economy we all inhabit.”
Pay Me In Bitcoin - Part 1
Sports will change forever. pic.twitter.com/9bU6hXf6Ib
— OKUNG 🐆 (@RussellOkung) October 29, 2024
At the time, Bitcoin was worth a comparatively paltry $27,000. Fast forward four years and the cryptocurrency is trading at $87,803 late Monday, an increase of more than 220%, placing Okung's Bitcoin bet at $21 million.
In 2021, the Bitcoin aficionado defended the crypto when Tesla CEO Elon Musk announced his company would no longer accept Bitcoin payments, citing environmental concerns over its energy consumption.
In response to Musk’s proclamation, Okung launched the “Stick to Space, Elon” campaign.
“Bitcoin is humanity’s best shot at freedom," Okung told Decrypt at the time. "The public narrative needed correction as Elon apparently misunderstands its true benefit to our species.”
He continued: “No individual is a threat to Bitcoin in the grand scheme of things. In Elon’s words, it is inevitable. His impact on Bitcoin is temporary.”
Okung retired from football in June 2023. If he’s still holding bitcoin, he could go down in history as the GOAT—among all ex-athlete investors.
Edited by Sebastian Sinclair