The three-time NBA champion and Golden State Warriors player Andre Iguodala announced that a portion of his annual salary will be paid in Bitcoin (BTC).
Iguodala took to Twitter to announce that he will be receiving part of his salary ($2.647 million) in Bitcoin (BTC) and that $1 million in Bitcoin (BTC) will be given back to fans. The payment will be carried out via Cash App of Block.
I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we're giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp
— andre (@andre) January 10, 2022
The list of people choosing crypto payments over cash payments is growing by the day. Celebrities, influencers, athletes, and government officials on many occasions have chosen to receive their compensation via cryptocurrencies.
Andre Iguodala has been the latest to join the list of athletes that are doing the same, NFL athletes being atop the list. As for government officials, Francis Suarez and Eric Adams, the Mayors of Miami and New York City have also pledged to take their salaries in Bitcoin (BTC). Mayor Suarez has also used his retirement savings to invest in the biggest cryptocurrency.
There are mutual gains as far as receiving and providing salaries in Bitcoin (BTC) or other crypto assets is concerned. Should companies with a multitude of workers around the globe adopt cryptocurrency payments, the time of transactions will be considerably reduced and banking information of employees would no longer be necessary.
Moreover, the procedure of converting fiat currencies to crypto for investment purposes would be eliminated as employees would be able to swap the cryptocurrency for the investment of their preference.
For more skeptical employees, the problem of volatility is also addressed seeing as they are able to convert their cryptocurrencies to stablecoins and not gamble on unpredictable price movements.