Why Athletes Need Bitcoin – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

According to online reports, Galatasaray S.K. and Netherlands national football team’s Ryan Babel has been shilling bitcoin to his teammates.

Babel has played for Ajax, Liverpool, Fulham and others. He has played in the Champions League, Euro 2012 and the World Cup building connections to some of the best-known and well-compensated soccer players in Europe. Babel has shared his eagerness to accumulate bitcoin on Twitter, so it is not a stretch to imagine that the reports are accurate.

If Babel and his teammates have been buying bitcoin for the past six months, for example, then they’ve made some hefty gains. This is as important to athletes as it is to anyone else, as they need a place to store their wealth in the best possible way. Securing their wealth behind a wall of cyber hornets and a 21 million supply cap ensures it will not deteriorate, but actually increase in value. The only meaningful difference between Bitcoin plebs and pro athletes is that the latter tend to have tens- to hundreds-of-millions of dollars more than the former with which to buy bitcoin.

Athletes have also been buying bitcoin here in the U.S., with NFL player Russell Okung using Strike to get a sizable portion of his $13 million contract paid to him in bitcoin. Why? Because Bitcoin is the perfect tool to protect one’s wealth. The average career length of athletes isn’t too long, and even though they make a lot of money, they need to protect it for the rest of their lives. Bitcoin excels at this.