NY Giants’ Saquon Barkley to convert all his endorsement funds to BTC
- Barkley claims his decision to convert his funds to BTC is inspired by the rising inflation in the US.
- With this decision, Barkley will be potentially injecting roughly $10 million in BTC each year.
- Before Barkley’s foray into crypto, his team, the New York Giants, partnered with Grayscale.
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Saquon Barkley, an American footballer that plays as the running back for the New York Giants, intends to convert all the funds he obtains from endorsements and marketing deals to Bitcoin (BTC/USD). Barkley disclosed this bullish news during the June 14 episode of The Best Business Show, which is hosted by crypto proponent Anthony Pompliano. Allegedly, the footballer’s decision is inspired by the rising inflation in the US.
According to Barkley, the rising inflation has made it impossible to save wealth through fiats. He added he always planned to live off his marketing money even before making his way to the National Football League. As such, the only way to secure this plan was to accept the funds in BTC.
Barkley further cited that,
When you see the KDs, the Lebrons and Bradys of the world and you want to create generational wealth, you can’t do that with the sport that I play and the position that I play and coming off of injuries.
Channeling millions of dollars into BTC
Reportedly, the 24-year-old has inked sponsorship deals with leading companies in various industries. These include Bose, Dunkin Donuts, Nike, Pepsi, Toyota, and Visa, just to mention a few. It is worth noting that he signed endorsement deals worth $4.50 million (£3.25 million) in 2019. Over the years, this figure has grown to more than $10 million (£7.22 million) annually, according to Joe Pompliano, who breaks down the business and money behind the sports world in his newsletter dubbed Huddle Up.
Notably, Barkley’s team secured a sponsorship deal with Grayscale Investments, a leading crypto asset manager, in May. At the time, the New York Giants’ Chief Commercial Officer, Pete Guelli, said the partnership with Grayscale was strategic. According to him, the team was searching for a partner that not only understood the value of joining hands but one that could also help the team navigate the crypto space.
Apart from Barkley, several other NFL players have also taken a pro-crypto stance. For instance, Jacksonville Jaguars’ quarterback Trevor Lawrence, who announced that he would convert his signing bonus to crypto after inking an endorsement deal with Blockfolio. Sean Culkin, a free agent tight end, had also promised to convert his salary to BTC just before the Kansas City Chiefs released him in May.