NBA Star Andre Iguodala, Now Receives Part Of His Salary In Bitcoin

Andre Iguodala, three-time NBA champion and professional basketball player for the Golden State Warriors. (photo: twitter)

JAKARTA - On Monday afternoon, January 10, US time, Andre Iguodala, three-time NBA champion and professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in form of Bitcoin (BTC).

In addition, Iguodala added that he will give BTC worth 1 million US dollars to fans to increase adoption of the digital currency. Payments are said to be facilitated by the Block Cash App, formerly known as Square.

According to a Cointelegraph report, Iguodala joins a growing list of celebrities, athletes, influencers, and government officials who are doing the same. At least seven NFL players are currently choosing crypto over cash paychecks.

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

Last year, Miami Mayor Francis Suarez and New York City Mayor Eric Adams said they would receive their salaries in BTC. Suarez even took it up by investing in BTC with his retirement savings of $401,000 as well.

Taking a salary in BTC or other crypto has the potential to benefit both employers and employees. For starters, companies with a large percentage of international workers don't need their staff's personal banking information, nor do they need to make slow and expensive wire transfers to make payments.

Moreover, it will save employees from the trouble of moving their fiat funds to a crypto exchange for investment as they can easily exchange the digital currency they receive for the currency they want.

The volatility problem is also easy to solve. Employees who are skeptical or bearish on the movement of the coin in the near future can easily exchange their crypto paychecks to stablecoins once they receive them through a wallet or exchange.