Kansas City Chiefs’ Sean Culkin believes bitcoin is the “future of finance” and said Monday that he wants to prove he’s got “real skin in the game” by turning his entire NFL salary into the crypto currency.
By doing so, he becomes the first NFL player to make any such commitment since crypto remains a mainstream investment.
The 27-year-old joined the Chiefs in February on a reserve/off contract that would pay him a $920.000-minimum salary if he earns a spot on the Kansas City roster.
In the past year, a single Bitcoin jumped 536% from $7,624.85 to $48,542.95.
He was a free agent from Missouri in 2017, undisclosed. A simple conversion would turn Culkin’s $920,000 salary to worth over $5 million.
“I want to do this with the thought it would continue to rise over the long term,” he said. “This for me is a long-term play, a generational play. The more research I did and the more I zoomed out, I didn’t necessarily link volatility to risk. I saw Bitcoin was growing at such an exponential rate.”
Culkin, who was recently signed as a free agent in February, hopes for a spot on the Chiefs’ roster. He has played 19 career NFL games and caught two passes for the Los Angeles Chargers and Baltimore Ravens.