Aaron Rodgers, Green Bay Packers quarterback, has announced that part of his four-year contract worth $134 million will be converted into bitcoin.
He’ll also give away $1 million worth of Bitcoin to certain users on Twitter and Instagram as part of this move.
These deals are being made possible by CashApp, a mobile payment service offered by Square.
To be eligible for the promotion, users will need to reply to his post via Instagram or Twitter with a hashtag along with their cashtag.
There will be 50,000 winners. Each winner will receive $20 worth of bitcoin. Randomly selected winners will be chosen.
I believe in Bitcoin and the future is bright. Cash App is my partner in this endeavor. I will be investing a portion of my salary today in bitcoin.
– Aaron Rodgers, @AaronRodgers12 November 1, 2021
This is Rodgers’ first public deal with a cryptocurrency-adjacent company. Although Rodgers, three-time MVP, has not made any public statements on the subject, he did speak with Kenny Mayne, an ex-ESPN anchor about it.
Mayne’s goodbye show on ESPN in May saw Rodgers chastised for encouraging Rodgers to buy crypto.
“You said to me that I should get involved in the crypto currency market. I did. Mayne stated that we are down 40%. Then, I lost my job. Gretchen wants a new comforter. [Expletive] you Aaron Rodgers.’
Rodgers replied with a smile, “I love you Ken,”
BTC had fallen substantially from its April 14th record of over $64,000 at the time of this recording.
The bitcoin price was $39,000 on Mayne’s last show. This is a 39% decrease from April 14.
BTC was relatively stable from May through August, but it began a steady climb upwards from that point.
The bitcoin value has risen by approximately $21,500 per coin between Aug. 1 and today.
Referring to the example, a $1,000 investment in that time period would have produced a profit of approximately $1,600.
After a bitcoin ETF ($BITO), launched earlier in the week on the New York Stock Exchange, it reached an all-time high at $66,964 Oct. 20.
Since Monday afternoon, the price has fallen to $61,000.
The NFL community is embracing cryptocurrency.
Tom Brady, Tampa Bay Buccaneers quarterback, invested in FTX cryptocurrency exchange in the summer. He has also done commercials for the brand as a spokesperson.
Bucs receiver Mike Evans accidentally gave Brady’s 600th touchdown pass to a fan in October.
Later, the fan gave the ball back to him. The fan was also given a bitcoin as part of the compensation package. It was the most valuable commodity in the deal.
A pair of season tickets, two Brady signed jerseys, a Brady-signed helmet and Evans-signed jersey were also given to the fan. Evans’ game-worn shoes were also included.
What is the total value of all Bucs stuff? Around $35K Bitcoin? It’s almost twice as much.
In May, Kansas City Chiefs quarterback Patrick Mahomes posted this tweet in response to a market crash in which Bitcoin plummeted to its lowest level in six months, at $29,000
Mayne mentioned these market conditions in the above ESPN clip.