Bitcoin (BTC) institutional demand is conspicuously wanting at the end of the year as data flags the “underperformance” of the United States’ first Bitcoin futures exchange-traded fund (ETF).
As noted by markets commentator Holger Zschaepitz on Dec. 29, the ProShares Bitcoin Strategy ETF (BITO) is now trading at nearly 30% below its launch price.
Anticlimax rounds out 2021 for ProShares ETF
In a sign of the times regarding Bitcoin sentiment, the hype that accompanied BITO’s launch in Q3 has died down considerably.
Going from record-breaking volume on its first day to its current state, the ETF has even underperformed the embattled Bitcoin spot price in 2021.
“The first Bitcoin futures ETF in the US was a dud, at least this year,” Zschaepitz commented.
Meanwhile, as Cointelegraph reported, the Grayscale Bitcoin Trust (GBTC) continues to trade at its biggest-ever discount to Bitcoin spot price, or net asset value (NAV).
GBTC’s conversion to an ETF, slated for next year, meanwhile depends on the tone of U.S. regulators regarding spot-based products, these yet to debut.
GBTC price vs. holdings vs. GBTC premium chart. Source: Coinglass
Eerie all-time highs persist in stocks
While detractors describe the GBTC discount as “very concerning,” activity from investors themselves does not unanimously point to apathy when it comes to Bitcoin.
Related: 5 ways derivatives could change the cryptocurrency sector in 2022
Morgan Stanley upped its GBTC allocation this month and last, in a sign that longer-term sentiment remains strong.
As 2021 draws to a close, the $SPX is nearing a 92-year log-scale resistance line, which has the potential to be a formidable barrier given that it is based off of the index’s 1929 and 2000 peaks. ~ Reuters pic.twitter.com/khK1e09vCA
Macro markets, meanwhile, display curious characteristics. The S&P 500 is at record highs, challenging a trendline which has marked topside resistance since its inauguration almost 100 years ago.
Below the surface, however, all is not as it seems, warnings revealed this week.
The crypto mining industry is reportedly booming in Thailand after China imposed a ban on the mining of digital assets like Bitcoin and Ethereum in the region. According to a recent report published by Al Jazeera, retail crypto miners in Thailand are buying mining rigs in large quantities.
The BTC mining hash rate dropped by more than 50% after China’s ban in 2021. However, large mining companies shifted to other locations like the US and Canada to continue their operations. While big companies selected North America and Europe, small retail miners preferred Southeast Asia for the profitable mining business.
“Bitcoin is the gold of the digital world. But, a mining rig is like gold mining stocks: you’re paid dividends according to the gold price. There are around 100,000 Thai miners now,” Thai entrepreneur Pongsakorn Tongtaveenan told Al Jazeera.
Thailand has witnessed a surge in demand for crypto mining machines during the last few months. As a result, Thai entrepreneurs ordered a large amount of Bitmain Antminer SJ19 Pro from Shenzhen this year.
Crypto Mining
Despite a cut in rewards, BTC mining is still profitable for miners around the world. However, the cost of electricity plays an important role in the overall volume of mining profits. “More than 95 percent of electricity produced is made for export, so the excess must be used otherwise it is a big waste for the government,” an expert on Laos’ crypto regulations told Al Jazeera, requesting anonymity. “They see an opportunity to transform that excess into millions of dollars,” the expert added.
The BTC mining hash rate spiked by almost 27% in 2021, which was mainly due to a jump in retail crypto mining across Southeast Asia. While large companies remained dominant in the global crypto mining industry, small retail miners have gained a fair share in the last 6 months.
The crypto mining industry is reportedly booming in Thailand after China imposed a ban on the mining of digital assets like Bitcoin and Ethereum in the region. According to a recent report published by Al Jazeera, retail crypto miners in Thailand are buying mining rigs in large quantities.
The BTC mining hash rate dropped by more than 50% after China’s ban in 2021. However, large mining companies shifted to other locations like the US and Canada to continue their operations. While big companies selected North America and Europe, small retail miners preferred Southeast Asia for the profitable mining business.
“Bitcoin is the gold of the digital world. But, a mining rig is like gold mining stocks: you’re paid dividends according to the gold price. There are around 100,000 Thai miners now,” Thai entrepreneur Pongsakorn Tongtaveenan told Al Jazeera.
Thailand has witnessed a surge in demand for crypto mining machines during the last few months. As a result, Thai entrepreneurs ordered a large amount of Bitmain Antminer SJ19 Pro from Shenzhen this year.
Crypto Mining
Despite a cut in rewards, BTC mining is still profitable for miners around the world. However, the cost of electricity plays an important role in the overall volume of mining profits. “More than 95 percent of electricity produced is made for export, so the excess must be used otherwise it is a big waste for the government,” an expert on Laos’ crypto regulations told Al Jazeera, requesting anonymity. “They see an opportunity to transform that excess into millions of dollars,” the expert added.
The BTC mining hash rate spiked by almost 27% in 2021, which was mainly due to a jump in retail crypto mining across Southeast Asia. While large companies remained dominant in the global crypto mining industry, small retail miners have gained a fair share in the last 6 months.
Melbourne, Australia, December 23rd, 2021 — The world’s first ethical and inclusive DeFi ecosystem platform MRHB DeFihas launched its highly anticipated Souq NFT marketplace. Partnering with Gachyi Land, the first blockchain gaming gacha-launchpad ecosystem, the two parties will mint and issue Hallal Gachyi, a unique Gachyi Land-themed NFT collection created for Souq NFT.
Souq NFT is the first NFT marketplace in the world focussed on creating an ethical and halal marketplace for digital art and other NFT assets. Artists on the platform follow image, audio and video content guidelines such as no hate speech, racism or nudity, and must verify that the artworks are original pieces (no rip-offs of existing NFTs).
The MRHB DeFi collaboration with Gachyi Land will see the latter create 1,410 Hallal Gachyi NFTs (otherwise known as ‘Rimos’). MRHB DeFi will create and deploy the smart contract for these NFTs and Hallal Gachyi will be sold on Souq NFT marketplace.
“Our vision to create an inclusive, ethical DeFi and NFT ecosystem continues to take shape,” says Deniz Dalkilic, CTO of MRHB DeFi. “The Hallal Gachyi collection is the result of a unique collaboration with Gachyi Land and demonstrates our commitment to launching quality crypto products that meet and hopefully exceed community expectations.”
“NFTs are the building blocks of our digital future — they allow us to own digital items in ways we have never been able to before,” comments May Wong, founder of Gachyi Land. “We wanted to provide a colorful and cute entry point into the NFT space for the Islamic community, in the form of a ‘Rimo’. The NFT space has shown us that early adoption of NFTs that gain value over time represents opportunity. We are excited to release Hallal Gachyi with MRHB and provide value to their community!”
Hallal Gachyi NFTs will be issued on the BSC blockchain using the ERC-721 token standard. NFT owners will be able to play a mini-game at a future date where they can earn rewards such as $MRHB tokens and $Polymer tokens. The NFTs will also receive utility in Gachyi Land’s MMO RPG (Massively Multiplayer Online Role-Playing Game), expected to be released in 2023.
Both parties will promote the new venture together on their respective platforms and are exploring future plans for MRHB to create other gamification models that integrate with the MRHB ecosystem.
A Shared Vision to Empower Communities
The Gachyi Land platform was created with the desire to empower artists with its disruptive NFT ecosystem. Gachyi Land provides artists with the platform, community, technology and tools they need to display and sell their work, and further explore the possibilities of the digital realm.
Similarly, MRHB DeFi was conceived with the goal of giving excluded and crypto-cautious communities better access to cryptoverse opportunities with a key focus on the provision of decentralized financial services that avoid interest-based profits and lending. MRHB DeFi bridges the existing gap between crypto offerings and the ethical faith-based community.
The journey to an inclusive, ethical DeFi cryptoverse has not been a lonely one for MRHB DeFi. The halal project is currently backed by investors and partners which include Polygon Technology, Sheesha Finance, Blockchain Australia, Australian Gulf Capital, Mozaic, Contango Digital Assets, NewTribe Capital, Masary Capital, ZKSync, Acreditus Partners, EMGS Group, Sinofy Group, MKD Capital and others.
In collaboration with management consulting group, Sinofy, MRHB DeFi has also organized an NFT art competition, designed for creators and artists, within the framework of the DEV Challenge Season 18 championships in Ukraine. More information on how to participate can be found in the MRHB DeFi Medium blog.
December is turning out to be a very exciting and busy month for MRHB DeFi, having launched their IDO yesterday on December 22nd. The $MRHB tokens were sold out on the DODO launchpad in half a day, with the second launchpad ZeeDO catching up. Upon completion of IDO, TGE (Token Generation Event) will take place on December 24th 1PM UTC/GMT, which will then be closely followed by its listing on the popular DEX Pancakeswap.
About MRHB DeFi
MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.
The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.
Gachyi Land is building an ecosystem that consists of an NFT Launchpad and Play-To-Earn MMORPG. NFTS issued on their platform will be incorporated within the ecosystem to serve either an in-game functionality such as boosts or exclusive pre-sale access, or their utility can be built into future games.
With its disruptive Play2Earn MMORPG, Gachyi is providing artists with the platform, community, technology, and tools they need to unleash their creativity and gain the exposure they deserve. NFTs will be minted via Gachyi’s interactive gachapon machines on the Polygon blockchain based on the ERC-721 token standard, priced in MATIC.
Bitcoin started a fresh decline below the $50,000 support against the US Dollar. BTC remains at a risk of a larger decline below $47,500 in the near term.
Bitcoin started a fresh decline below the $50,000 and $49,500 support levels.
The price is trading below $49,000 and the 100 hourly simple moving average.
There was a break below a bearish continuation pattern with support near $49,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could correct higher, but upsides might be limited above $49,200 in the near term.
Bitcoin Price Gains Bearish Momentum
Bitcoin price failed to gain strength and started a fresh decline below the $50,000 support. BTC traded below the $49,200 and $49,000 levels to move into a bearish zone.
Besides, there was a break below a bearish continuation pattern with support near $49,200 on the hourly chart of the BTC/USD pair. The pair even traded below the $48,500 support zone and traded close to the $47,200 level.
A low is formed near $47,305 and the price is now consolidating. Bitcoin is trading below $49,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $48,200 level. The first major resistance is near the $48,500 level.
The 23.6% Fib retracement level of the recent decline from the $52,111 swing high to $47,305 low is also near $48,500. The next key resistance could be $49,800.
Source: BTCUSD on TradingView.com
Besides, the 50% Fib retracement level of the recent decline from the $52,111 swing high to $47,305 low is near the $49,700 zone to act as a resistance. A clear move above the $49,800 resistance zone could start a fresh increase. The next major stop for the bulls may possibly be near the $51,200 level.
More Losses In BTC?
If bitcoin fails to recover above $49,200, it could continue to move down. An immediate support is near the $47,500 zone. The first major support is near $47,200.
A downside break below the $47,200 level could push the price towards the $46,500 support. Any more losses may possibly lead the price towards the $45,500 support zone.
Technical indicators:
Hourly MACD – The MACD is slowly losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well below the 40 level.
Major Support Levels – $47,200, followed by $46,500.
Major Resistance Levels – $48,200, $48,800 and $49,800.
British Virgin Islands, 22nd Dec 2021 — Following a successful community raise on Launchpool, with 2.7 million tokens staked by 3,000+ wallets at a value of USD 9.4 million, Tony Hollingsworth, CEO of the Listen Campaign announced a massive increase in $LSTN utilities, including a 50% discount on Listen NFTs.
“We are very pleased with the private sales of theListen Tokens ($LSTN),” said Hollingsworth. “After the initial raise, we went back at the request of the Launchpool community for a total raise of $750,000 and an additional $350,000 on Infinity Pad. With Lightning and IDO coming up, we then decided to reward our loyal holders and give back via this massive discount.”
Listen NFT collections
The NFT sale will begin with an unprecedented collection of NFTs featuring never-to-be-repeated performances by huge artists such as Stevie Wonder, Sting, Bob Dylan, David Bowie, BB King, George Michael, Jon Bon Jovi, MC Hammer, and dozens more.
In addition to the discounts available, $LSTN token holders have a chance to win 1 of 50 pairs of tickets to the private view of the “Listen Live” event at the Los Angeles Coliseum on June 20th to 22nd, featuring dozens of film and music stars.
“In order to reward our most loyal holders,” continued Hollingsworth, “those with greater holdings will unlock greater discounts, but we will do more, including having auctions that are open only to $LSTN holders, staking benefits and spot contests and prizes.”
The Listen Campaign platform has an annual reach of 500 million people
The Listen NFTs are a part of the Listen Campaign, a global broadcast campaign in 200 countries, 9 languages and scheduled to reach over 500 million people. The Listen Campaign will benefit 1 billion vulnerable and disadvantaged children around the world. The tokens themselves will be supported via a massive marketing and advertising campaign.
Record-holding team
The team behind the Listen Campaign is headed by Tony Hollingsworth, who created nine of the largest global campaigns including the “Nelson Mandela 70th Anniversary Tribute” and “The Wall: Live in Berlin”. They will be bringing their expertise to the decade-long Listen Campaign.
As the team prepares for launch, they have lined up their final IDO Launchpad with Lightning to further increase the number of token holders, project supporters and community members.
Imminent completion of the security audit will be followed by a strong promotion and execution of TGE and NFT launch via the ‘Listen Collectibles Auction and Shop’.
LCAS, Built on Flow
Listen built their platform from the ground up to make buying NFTs as easy as possible for non-Crypto audiences. It is built on the Flow blockchain so it is faster, allows for native fiat payments using regular credit cards and has lower transaction fees. Flow is also more environmentally friendly than Ethereum.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $48,335 on Bitstamp at Dec. 28’s Wall Street open.
The pair had passed $52,000 the previous day, this marking a three-week high, before pressure from sellers halted progress.
At the time of writing, Bitcoin circled $49,000 as traders took the opportunity to remind audiences of Bitcoin’s ongoing active range.
“Humans get bullish at resistance. It’s a thing,” Scott Melker summarized.
“Still ranging. Nothing has changed.”
The $52,000 trip indeed failed to attack any of the price levels previously identified as turning points, notably $53,000 — Bitcoin’s $1 trillion market cap mark.
Popular trader Pentoshi meanwhile identified $44,000 as a potential floor should the downward trend accelerate. Slightly longer timeframes offered a similar outlook based on recent behavior.
Zooming out, however, and there were bearish considerations on the horizon. William Clemente, the lead insights analyst at Blockware, identified a potential repeat of behavior immediately after 2017’s old all-time high, which led to an entire year of a bear market.
“Judgment day is coming for BTC,” he warned in Twitter comments.
Concerns loom over miracle equities readouts
Bitcoin thus presented a contrast to macro Dec. 28 as the S&P 500 hit its 69th all-time high of the year.
Related: Veteran Bitcoin hodlers are still selling record low amounts of BTC despite 70% gains in 2021
Almost a record in itself, stock market exuberance was already ruffling feathers among pundits concerned about a potential chasm between the numbers and empirical reality.
Just to put things into perspective: The S&P 500 may close today at another ATH, it would be the 69th ATH this year, 2nd most ever only behind 77 ATHs in 1995, but the average S&P 500 comp is down 18% from its ATH, suggesting a massive amount of weakness underneath the surface. pic.twitter.com/3RsPFP1Ajs
As Cointelegraph reported, the United States Federal Reserve will have a decisive role to play in shaping 2022’s market climate when it comes to Bitcoin’s performance.
In the meantime, however, BTC/USD faces a low-liquidity — and thus potentially high-volatility — holiday season.
Huobi Global, one of the prominent digital asset exchanges, announced the company’s 8th Primelist event yesterday. According to the detail shared by the company, the event will give its users a chance to win a coveted allocation of DIO tokens upon their listing on 28 December 2021.
Huobi Global mentioned that the company’s clients will be able to qualify for the allocation by holding Huobi Token. Otherwise, users can wait until the listing day for registration. Since the start of November, Huobi Global launched several Primelist events to facilitate high-potential and growth-oriented companies working in the crypto and technology ecosystem.
DIO Token is a project under the game developer, Fracture Labs, a company based in Estonia. In 2022, it is planning to launch Decimated, a blockchain-based multiplayer survival game.
“DIO’s listing on Huobi Global will fund the development of Decimated and an NFT marketplace; a portion of the proceeds will go towards play-to-earn gameplay, airdrops and in-game rewards. Estonia-based Fracture Labs began development of Decimated in 2018 and launched a private token sale in October 2021. In November 2021, the company raised a $3.5 million round from a number of backers, including Alameda Research, Huobi Ventures and Cryptology AG,” the company noted.
In the last few quarters, Huobi Global has seen a jump in trading volumes and the number of users. To meet the growing demand, the crypto exchange expanded its suite of trading services through the expansion of Huobi Derivatives Warrant.
DIO Tokens
According to Huobi, players participating in the game will be able to earn DIO tokens via the completion of tasks and missions.
“Built on the Unreal gaming engine, Decimated features an expansive open world in which players can team up with others to scavenge for loot, collect resources for trading, fight creatures, capture territory and more. In-game items, vehicles and structures are minted on the blockchain and continue to exist until they’re scrapped or destroyed,” Huobi added.
Huobi Global, one of the prominent digital asset exchanges, announced the company’s 8th Primelist event yesterday. According to the detail shared by the company, the event will give its users a chance to win a coveted allocation of DIO tokens upon their listing on 28 December 2021.
Huobi Global mentioned that the company’s clients will be able to qualify for the allocation by holding Huobi Token. Otherwise, users can wait until the listing day for registration. Since the start of November, Huobi Global launched several Primelist events to facilitate high-potential and growth-oriented companies working in the crypto and technology ecosystem.
DIO Token is a project under the game developer, Fracture Labs, a company based in Estonia. In 2022, it is planning to launch Decimated, a blockchain-based multiplayer survival game.
“DIO’s listing on Huobi Global will fund the development of Decimated and an NFT marketplace; a portion of the proceeds will go towards play-to-earn gameplay, airdrops and in-game rewards. Estonia-based Fracture Labs began development of Decimated in 2018 and launched a private token sale in October 2021. In November 2021, the company raised a $3.5 million round from a number of backers, including Alameda Research, Huobi Ventures and Cryptology AG,” the company noted.
In the last few quarters, Huobi Global has seen a jump in trading volumes and the number of users. To meet the growing demand, the crypto exchange expanded its suite of trading services through the expansion of Huobi Derivatives Warrant.
DIO Tokens
According to Huobi, players participating in the game will be able to earn DIO tokens via the completion of tasks and missions.
“Built on the Unreal gaming engine, Decimated features an expansive open world in which players can team up with others to scavenge for loot, collect resources for trading, fight creatures, capture territory and more. In-game items, vehicles and structures are minted on the blockchain and continue to exist until they’re scrapped or destroyed,” Huobi added.
Cryptocurrencies saw tremendous growth in 2021. The global market cap of crypto now stands at $2.25 Trillion. With features like secure and irreversible transactions, inflation protection, high yields, and cheap global funds transfers, crypto has become everyone’s go-to solution for finance. Multiple sectors are now joining the crypto bandwagon with their amazing decentralized solutions.
Despite their immense popularity, we are still a long way from widespread usage. Although it feels that crypto is growing, a population-wide analysis shows that crypto users remain a minority. The global crypto ownership rates were merely 3.9% in 2021, with over just 300 million crypto users globally.
However, industries are evolving to bring crypto to the masses and one of the key drivers of this growth is the gaming sector. According to analysts, gaming will be the key sector to offer blockchain and crypto a chance to become a genuine use case, not only by making games more immersive but also by developing internal economies that will educate people about cryptocurrencies. This $150 Billion industry is all set to push crypto to the masses.
Giving Blockchain and Crypto a Real Use Case
Crypto and gaming were an ideal combination that never materialized previously. However, with the advancement in blockchain, people have realized the potential of crypto gaming, giving rise to play-to-earn (P2E) games. These games have proven to be a game-changer in the industry, offering income streams to users that were not previously available in free-to-play games.
The P2E model combines blockchain solutions such as crypto and non-fungible tokens (NFTs) to provide additional value as well as an excellent user experience. Crypto specifically is being used as in-game currency to reward users for playing the game. Even NFTs are transforming the way we deal with in-game items, making them easily accessible outside the gaming ecosystem for real-world monetization.
Moreover, many games have simplified blockchain and crypto to new users, driving mass adoption. The majority of blockchain gaming platforms have already demonstrated to the world why crypto gaming is the way of the future. Even platforms like Citrus are playing a key role in accelerating the transformation of gaming. It is offering a wide range of solutions to the blockchain and gaming worlds through a mix of decentralized finance (DeFi), NFTs, innovative dApps, and other technologies.
Going Mainstream with Play-To-Earn and Metaverse
Mainstream adoption of crypto is feasible when everyone can engage in an ecosystem and find value in it. As for now, crypto gaming appears to be on pace to increase adoption through the utilization of the play-to-earn and metaverse concepts. Even as cryptocurrencies are here to stay, blockchain gaming could be a tremendous force that will assist us in getting this revolution started.
Moreover, if people can be persuaded to play games and learn about cryptocurrencies, we could attain widespread acceptance sooner than projected. In addition, if gaming platforms like Citrus continue to flourish and provide a solid foundation for blockchain P2E games, we may see some of the world’s greatest economies participate in crypto gaming. In fact, Asia-pacific countries could be the largest gaming market due to the bulk of its appeal among the younger generation.
Beyond that, NFTs and the metaverse could be an added advantage to its success. Crypto gaming is all set to expand, and in a few years, we may expect to see an entirely new gaming world. With the ease of access to the gaming industry, crypto would see widespread acceptance among the masses.
For NFL fans, 2021 was a great year. Stadiums returned to capacity crowds after the 2020 season was shortened with limited attendance. Stadium parking lots were again filled with the enthusiastic anticipation of tailgaters and their barbequed camaraderie.
It was also a great year for Bitcoin (BTC) investors as the largest cryptocurrency by market capitalization reached all-time high prices multiple times throughout 2021, eventually topping out at $69,000 in early November. This led to a dramatic increase in media coverage of Bitcoin.
Seven NFL players in 2021 decided to call the audible and begin either being paid in crypto or having their cash salary partially converted to crypto. These players have capitalized on the return of the regular season and the increased profitability of Bitcoin.
Aaron Rodgers
The reigning 2020 NFL MVP announced via a Nov. 1 video post on Twitter that he was partnering with Cash App payment service to accept a portion of his salary in Bitcoin. Rodgers will earn roughly $22.3 million this year.
The video depicted Rodgers dressed as John Wick for a Halloween party. If that wasn’t strange enough, likely by design, Rodgers also told viewers that he would donate $1 million in BTC.
In Rodgers’ case, he will have a portion of his salary sent to his Cash App account, which he will then use to buy BTC.
The Twitter profile for the star quarterback for the Green Bay Packers features a picture of himself on the field during a game with the iconic laser eyes, further signaling his support for BTC.
Tom Brady
Tom Brady is another very high-profile NFL star quarterback who dabbled heavily in cryptocurrency in 2021. Brady has not yet said that he is being paid in BTC by the NFL, but he will be paid in crypto by FTX exchange after he took an equity stake in Sam Bankman-Fried’s exchange, and will serve as a brand ambassador.
Brady has not reserved himself to crypto assets alone, however. The iconic football star launched his own NFT platform, called Autograph, in April to attract the top talent in sports, entertainment, fashion and pop culture.
It doesn’t end there for Brady and crypto, though. Late in October, Brady threw the 600th passing touchdown of his career, marking an all-time high for the NFL, and helping to secure Brady’s position as the all-time leading touchdown passer in the league’s history. Brady paid 1 BTC to the fan who was initially given the ball by the receiver who completed the touchdown.
That BTC was worth about $62,000 at the time of the game, but the ball itself may be worth over $500,000 according to Goldin Auctions sports memorabilia auction company.
Odell Beckham Jr.
Odell Beckham Jr. (OBJ) followed in Aaron Rodgers’ footsteps by announcing late in November that he had partnered with Cash App to receive his salary from the NFL in BTC. His contract stipulates that he should receive about $4.25 million from the NFL this season.
The Los Angeles Rams’ wide receiver told fans that he would give back $1 million in BTC as part of his new partnership with Cash App. Beckham appears to be no stranger to the crypto and NFT scene as his Twitter profile dons a Crypto Punk NFT.
In case you haven’t noticed, Jack Dorsey’s Cash App is involved with both OBJ’s and Aaron Rodgers’ BTC salary deal. The payment service app has had a great 2021 through the first three quarters of the year by raking in nearly $10 billion in revenue from 36 million active users and 100 million downloads.
Trevor Lawrence
The Carolina Panthers’ new star quarterback joined the ranks of NFL superstars who are publicly accepting crypto payments. Lawrence’s deal, however, is not with the NFL directly. The 2021 NFL top draft pick’s crypto salary comes from an endorsement deal with the crypto portfolio app FTX (formerly Blockfolio).
The value of his deal has not been made public, but if Lawrence has been hodling his crypto earnings, there is a good chance he has enjoyed an appreciation in value, especially from the Solana (SOL) coins. The total crypto market cap has increased by about $500 billion since late April when the deal was announced.
Saquon Barkley
Saquon Barkley, the superstar running back from the New York Giants, revealed in July that he was converting all of his endorsement pay into BTC. As with most others on this list, Barkley is not being paid directly with crypto. Instead, he is swapping some of his cash earnings for crypto.
Barkley is using the Strike payment app to acquire his BTC. He is not the first NFL player to use Strike to buy BTC with his salary, however. Last year, former NFL offensive lineman Russel Okung became the first player to publicly share that he was using Strike to convert his NFL salary to BTC.
Barkley’s reasoning for trying to amass wealth with BTC revolved around the lack of longevity among NFL athletes. He told The Best Business Show host Anthony Pompliano on July 15:
“When you see the KD’s, 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. When you sit out of football for a whole year, you realize that this game could be taken away from you.”
Sean Culkin
Kansas City Chiefs’ tight end Sean Culkin went public with his plans to convert his entire salary from the NFL into BTC. While others on this list committed to converting only a portion of their salary into Bitcoin or being paid for endorsements with cryptos, Culkin is swapping 100% of his salary.
I fully believe Bitcoin is the future of finance and I wanted to prove that I have real skin in the game — not just trying to make a quick buck. I will be converting my entire 2021 NFL salary to #Bitcoin.
Like with Saquon Barkley, Culkin’s reasoning for turning to crypto has to do with the short half-life common among players in the league. The average time most athletes spend in the NFL is 3.3 years, according to Statista. Culkin said in a statement:
“Considering my career—particularly its physical demands, and brevity–it makes the most sense to be paid in sound money that I believe protects its purchasing power over time.”
Aaron Jones
Last but certainly not least on the list of NFL stars earning crypto is the Green Bay Packers’ Aaron Jones. The running back signed a deal with FTX to become an ambassador for the exchange in September. Like with Tom Brady’s deal, Jones purchased an equity stake in the exchange.
Jones will also integrate the FTX Pay platform into his own charity’s website to enable it to accept crypto donations.
Michael Saylor is one of the most vocal supporters of bitcoin and is CEO of MicroStrategy, the company with the largest bitcoin holdings in the world. The CEO has always been a big proponent of the digital asset, taking both a personal and professional stake in the asset.
Saylor had revealed in 2020 that he holds over 17,000 BTC. At this time, bitcoin was still trading below $30,000 and Saylor had said that he got all of his holdings for an average of $9,882. Bitcoin has since grown over 100% since the CEO made his big reveal, pushing the value of Saylor’s holdings to almost $1 billion.
Related Reading | December Turns Red For Bitcoin As Market-Wide Sell-Offs Continue
How Much Is Saylor’s BTC Worth?
Michael Saylor told The Information that he does not believe that anyone should sell any of their bitcoin and that he has actually never sold any of his bitcoin. In his 2020 reveal, he said that he held a total of $17,732 BTC, all of which he had purchased before his company MicroStrategy, had purchased its first bitcoin. At an average trading price of $13,900, Saylor’s holdings were worth a little over $246 million.
“Some have asked how much #BTC I own. I personally #hodl 17,732 BTC which I bought at $9,882 each on average. I informed MicroStrategy of these holdings before the company decided to buy #bitcoin for itself.”
Bitcoin is now trading significantly higher than it was when Saylor had made his big reveal, growing as high as $69k at his peak. Presently, the price of BTC is revolving around $48,000. At this present value, the CEO’s bitcoin holdings are now worth over $850 million.
BTC begins recovery trend | Source: BTCUSD on TradingView.com
He intends to continue holding these coins as he believes that bitcoin is headed for $6 million apiece. This means that the CEO still expects the cryptocurrency to grow another 12,000% from its current value.
How Much Bitcoin Does MicroStrategy Own?
MicroStrategy boasts the largest bitcoin holdings of any public company. The company had begun accumulating bitcoin in 2019 and has since garnered 122,478 as of its last purchase, bringing the total value of its holdings to over $6.1 billion. All of its BTC were purchased at an average price of $29,861, putting the company firmly in profit at the current value of the asset.
Related Reading | Crypto Research Analyst Puts Ethereum At $9,000 In Six Months
However, its CEO had begun purchasing bitcoin before the company. Saylor revealed that he had all of his BTC before MicroStrategy had bought its first bitcoin, adding that his personal holdings were shown to convince the company to begin investing in the digital asset.
The company, like its CEO, has no plans to sell is BTC. Instead, it has begun looking towards new ways to generate yield from the investment, which Saylor revealed at an investor day presentation held last week.
Featured image from Business Insider, chart from TradingView.com
