Over the past few years, it’s turn into increasingly popular for athletes to take a few of their contract money as cryptocurrency.
There was a cryptocurrency boom over the past few years, which made it a potentially lucrative decision. Nevertheless, those currencies are also more prone to fluctuate in value.
As of this week, one NFL quarterback is out almost $16 million because of cryptocurrencies losing value over the past few months. That quarterback is none apart from Trevor Lawrence.
The previous No. 1 overall pick opted to have his signing bonus paid in crypto, which has turn into an issue for him.
Based on a report from Coin Journal, Lawrence has lost 62.7-percent of the worth on his signing bonus.
Fans couldn’t help but react to the news.
“You’re getting paid hundreds of thousands of dollars to throw a ball and judge to take your salary in fake computer money. Guess that’s the sort of economics 101 they’re teaching over at Clemson,” one fan said.
“Whew, that is a few DUUUUUVAAALLL energy there by Trevor Lawrence. Guess who shall be playing hard to get those bonuses now…” one other fan said.
Lawrence has loads of other revenue streams, so he’s likely not hurting for money. Nevertheless, to lose greater than $15 million cannot be a straightforward pill to swallow either.
Perhaps the worth of his signing bonus will increase over the subsequent few years.