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    Home»Bitcoin»Russell Okung’s New Soccer League Needs Gamers to be Paid in Bitcoin – Decrypt
    Russell Okung’s New Soccer League Needs Gamers to be Paid in Bitcoin – Decrypt
    Bitcoin

    Russell Okung’s New Soccer League Needs Gamers to be Paid in Bitcoin – Decrypt

    By Jason NelsonNovember 15, 2024No Comments4 Mins Read
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    Bitcoiners, are you prepared for some soccer?

    Not solely are you able to play soccer, however retired Carolina Panthers NFL participant Russell Okung desires to ensure gamers in his new flag soccer league, aptly named Bitball, are paid in Bitcoin.

    Okung introduced the brand new enterprise on X (previously Twitter) on Thursday.

    Okung started envisioning a league the place gamers earn Bitcoin, followers may personal actual stakes, and communities may construct wealth, he advised Decrypt in an interview.

    “No extra middlemen taking their cuts or making backdoor offers,” Okung added. “Now, it’s about pure sport and pure Bitcoin, which implies pure alternative. That’s what I’m constructing—a brand new league.”

    In line with Okung, the concept for Bitball got here after leaving the NFL and unsuccessfully making an attempt to persuade league homeowners of Bitcoin’s deserves.

    “That’s the revolution,” Okung stated. “We’re shifting away from seeing athletes go broke and dropping generational wealth.”

    Gamers Okung reached out to had been enthusiastic in regards to the concept, together with pals and former NFL gamers he wanted to fill the Bitball’s preliminary ranks.

    “It’s been nice to see that I made this cultural assertion, and the response is for individuals to lean in and go deep,” he stated.

    The inaugural Bitball sport might be performed in Al Nahyan Stadium in Abu Dhabi on December 10 and can characteristic 24 skilled soccer gamers. Holders of Bitcoin convention tickets can attend the sport without spending a dime, Okung stated.

    In December 2020, Okung made headlines when he introduced he would take half of his $13 million wage, round $6.5 million, in Bitcoin. He nonetheless holds all of his Bitcoin, which he’s by no means offered, and continues to scoop up extra, he confirmed to Decrypt.

    Whereas Okung didn’t disclose how a lot he presently owns, the 240 Bitcoin he obtained in 2020 can be value round $21 million right now. Regardless of the ups and downs of crypto, Okung stated he’d by no means promote.

    “I did not do that “Pay me in Bitcoin” factor to commerce it in for {dollars},” Okung defined. “For me, it was a chance to remodel my household’s future. Bitcoin isn’t simply an funding—it represents freedom in digital kind.”

    “From a buying energy standpoint, that’s thrilling,” he stated. “I took a danger, and it seems it was a sensible danger,”

    Okung sees potential in constructing belongings on Bitcoin and views the foreign money as a basis for brand new worth creation. “I additionally put money into Bitcoin mining, so I’m excited about each land and vitality,” he stated. “Vitality, specifically, serves as an anchor for a high-output civilization.”

    Bitcoin and “civilization-building,” he believes, are central to his funding philosophy. “If we give attention to establishing the important parts an enlightened society requires,” he stated, “I imagine we will construct sustainable companies that may meet our wants, whether or not in money or fiat.”

    Bitcoin and the broader crypto market surged within the wake of Donald Trump’s election victory final week. Bitcoin hit a number of new all-time highs earlier than peaking at $93,477 on Wednesday.

    Whereas speculators say that Bitcoin may attain $1 million if Trump honors his promise of making a Bitcoin Reserve within the U.S., Okung emphasised the symbolic impression of Trump’s help, together with talking on the Bitcoin convention earlier this 12 months.

    “That’s a really critical gesture, exhibiting that these concerned in Bitcoin are lastly being taken critically,” he stated. “We’re a reputable and highly effective voting block that may form America’s future and different nations as effectively.”

    Regardless of the present pleasure, Okung stays keenly conscious of Bitcoin’s volatility—nonetheless, he stays targeted on the larger image.

    “After I first purchased Bitcoin, I knew in regards to the volatility and studied the market cycles. I anticipated highs and lows, however one key metric stood out: over a four-year horizon, Bitcoin typically goes up,” he stated. “I requested myself if individuals globally see Bitcoin as worthwhile. If sure, then it’s unlikely to ever go to zero. That gave me confidence, even by means of the FTX fallout.”

    Okung is optimistic about Bitcoin’s future in sports activities and envisions a day when different leagues, together with baseball, basketball, and extra, undertake Bitcoin as cost for athletes.

    “If no one else is aggressive sufficient to do it, then I am going to do it,” he stated. “However for now, we’re targeted on flag soccer.”

    Edited by Sebastian Sinclair

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