The Action Network crunched the number to reveal how much NFL stars may have lost due to the current meltdown.
Since the meltdown, Trevor Lawrence, quarterback for the Jaguars, would have seen his investment drop by more than 10 million dollars!
Saquon Barkley’s, running back for the Giants, the investment would now be worth $4,142,168.03 from his original investment of $10 million.
Bitcoin’s price has slumped below $27,000 for the first time since 2020, and now investors are getting out before it’s too late. But how much could the sports stars who invested their salary into crypto have lost?
With Bitcoin becoming more mainstream, many people started to invest, and in early 2021 Bitcoin skyrocketed to a high of $68,000. Bitcoin is teetering on the precipice of an abyss at the moment, with a value of $27,886.70, which is the lowest it has been in over 16 months.
Action Network has crunched the numbers to reveal how much Russel Okung, Trevor Lawrence, Saquon Barkley, and Sean Culkin may have lost because of the current meltdown.
Four stars who have been associated with Crypto
Former Carolina Panthers offensive tackle Russel Okung made headlines in 2021 when he converted half of his $13 million salary into Bitcoin.
Of his 2020 salary, if Russel Okung converted his $6.5 million investment at the peak in November, he would be expecting to lose $3,807,590.78 of his original investment and take his new earnings to just $2,692,409.22.
After partnering with Blockfolio, Quarterback Trevor Lawrence for the Jacksonville Jaguars agreed to have a signing bonus paid in full into a cryptocurrency account of an estimated $22,630,055.
By assuming he invested at the peak in November, Trevor, who invested $22,630,055 in bitcoin in 2021, would be losing $13,256,305, taking his bonus from a massive $22.6million to $9.3 million.
Running back Saquon Barkley, who plays for the New York Giants, agreed to receive $10 million worth of endorsement money through Bitcoin in 2021.
In November 2021, Barkley’s investment would have given him 147.97 bitcoins; since the crash, this would now be worth £4,142,168.03 – seeing a massive fall off £5,857,831 from his original $10 million investment.
In 2021, Former Chiefs tight end Sean Culkin claimed Bitcoin is “the future of finance” and that he would be converting his entire salary into bitcoin.
In 2021 his salary sat at $920,000 from his one-year deal with the chiefs, which equaled 13.61 bitcoins at the peak in November. Now Culkin’s investment would only be worth $381,079.46, seeing a fall of $538,920.54 since the crash.
The data is accurate as of 12/05/2022.
Making the assumption that the four stars invested at the peak of 2021 – it also has not been 100% disclosed if and how much each star invested, and if they withdrew their investment before the recent meltdown.
Featured Image: The Action Network