Bitcoin has proven a tempting asset for young NFL star Saquon Barkley, who is keen on creating cross-generational wealth.
Barkley Puts His Faith in Bitcoin for Future Riches
The National Football League (NFL) has caught a bit of a Bitcoin fever. After star quarterback Tom Brady announced that he is getting serious on cryptocurrency by launching his own NFT marketplace, Autograph, many other athletes have followed his example. The latest is New York Giants running back Saquon Barkley, who is now determined to get all his endorsement money paid straight into Bitcoin.
The young NFL ace believes this is a clever move. As part of the Giants’ lineup, Barkley has considerably more exposure to crypto, as the team is sponsored by Greyscale, an investment firm in the digital currency space. Yet, it’s not Greyscale that Barkley is interested in, but rather a service called Strike.
Strike is a payments company that allows you to convert fiat into Bitcoin and this is precisely what Barkley will be doing. Appearing on “The Best Business Show” segment hosted by cryptocurrency supporter and Creek Digital co-founder Anthony Pompliano, Barkley gave his reasons for shifting to Bitcoin more aggressively.
According to him, inflation is continuously undermining wealth and he wants to make sure that he creates what he believes is “generational wealth.” Barkley had conversations with current Strike chief executive Jack Mallers, who arguably helped the young athlete realize the importance of hedging against the phenomenon of money depreciating over time.
Jumping the Gun or Making the Right Call?
“We’re seeing inflation and we’re learning you can’t save wealth. That’s why I am going to be taking my marketing money in Bitcoin,” Barkley added. The young NFL star is moving in a lot of money into Bitcoin rather quickly, too.
Barkley is making eight figures from his endorsement income and that is a significant chunk of revenue. Yet, he is convinced that it’s what’s best for his family. Barkley gave several examples with other financially successful athletes, including Lebron James and Kevin Durant, both exceptional NBA players.
The fact that football is a highly dangerous game also motivates Barkley, who acknowledged on the show that there is always the threat of sustaining a career-ending injury. “Football can be taken away from you,” he said. Barkley isn’t too sure about “investments,” though, as he argues that people shouldn’t worry about “buying Bitcoin,” but that they should ask themselves how they should be storing their money.