According to reports, the National Football League No. 1 draft pick Trevor Lawrence has converted all his signing bonuses into cryptocurrency through the crypto company Blockfolio. Lawrence is the overall first choice for the National Football League in 2021. His signing bonus is estimated to be approximately $24 million.
NFL draft pick Trevor Lawrence converts signing bonus to cryptocurrency
Clemson quarterback Trevor Lawrence was selected by the Jacksonville Jaguars as the No. 1 overall pick in the 2021 NFL Draft on Thursday night.
The 6-foot-6-foot, 220-pound person has partnered with the crypto management and trading platform Blockfolio, which reportedly has converted his login bonus into cryptocurrency. Lawrence said on Twitter last week: “I was forced to announce that I have joined Blockfolio. Excited to help bring these two worlds together.” He also said:
When it comes to my cryptocurrency portfolio, I want a long-term partner in a field I can trust.
According to Dealbook, “The quarterback’s first payment was made entirely in encrypted tokens directly transferred to his Blockfolio account.” Although the company did not disclose the terms of the agreement, a spokesperson pointed out that Lawrence’s signing The bonus “on Sunday is more valuable than the money deposited on Friday night.” The publication added: “Future payments will be made in any combination of U.S. dollars and the cryptocurrency chosen by Lawrence.”
According to reports, the payment deposited on Friday has been converted into three cryptocurrencies: Bitcoin (BTC), Ethereum (ETH) and solana (SOL).
Although Lawrence’s signing bonus was not disclosed, Spotrac estimated it at $24.1 million.
In addition, Sam Bankman-Fried, CEO of FTX, the cryptocurrency exchange that acquired Blockfolio last year, said on Twitter on Thursday: “Congratulations on being the number one pick, Trevor Lawrence. We bring you Surprise-check if you have $25k SOL in your Blockfolio account. Thank you, cryptocurrency tonight.”
More and more professional athletes choose to pay with Bitcoin. After Russell Okung converted half of his $13 million salary into BTC, NFL player Sean Culkin of the Kansas City Chiefs converted 100% of his salary into bits currency. Earlier this month, the NBA Sacramento Kings stated that it would provide players with the option of paying in cryptocurrency.
What do you think of Trevor Lawrence converting his singing bonus into cryptocurrency? Let us know in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Trevor Lawrence, Twitter
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