Sean Culkin isn't worried about market volatility.
Cryptocurrency has become massive over the past decade, especially in light of the meteoric rise of Bitcoin. As of writing this article, Bitcoin is hovering around $53,000 USD and just a couple of weeks ago, it reached an all-time high of $64,000. Needless to say, BTC is very volatile although if you hold it for a very long time, you will always come out with some massive profits.
Now, NFL tight end Sean Culkin is going all-in on Bitcoin as he announced that he will convert his entire salary into Bitcoin. His base salary is $920,000 and all of it will be put into Zap's Strike which is a conversion app that turns Fiat into Satoshis. In a recent interview, Culkin explained why he's doing this.
“I don’t want to have to feel pressured to be like, ‘I don’t know if I’m gonna buy this week,’” Culkin said via Yahoo! Sports. “For me, it makes sense to get paid in the hardest form of currency, and it’s something that is resistant to inflationary pressures that I think is very relevant in this current economic environment."
Considering we are in the midst of a Bull Run, turning all of your Fiat currency into Bitcoin seems like a smart investment. However, when the three-year Bear Market rears its ugly head like it did in 2014 and 2018, it will be interesting to see if Culkin sticks to his guns and continues to invest his money this way.
Kevork Djansezian/Getty Images