Last year, NASCAR driver Landon Cassill struck a deal with cryptocurrency company, Voyager. As part of his contract, his salary will be paid in cryptocurrency, and the contract lasted for 19 races. Cassill was just one of many sports stars to embrace the emerging market. A couple of months later, NFL player Odell Beckham Jr also joined the Bitcoin bandwagon. Recently, Denny Hamlin and Landon Cassill discussed the issue of bitcoin.
Reports suggested that Beckham Jr. would take his $750,000 salary in Bitcoin. The cryptocurrency was then worth $64,293, but has since dropped to $35,400. Recently, some fans slammed the decision, believing that he suffered a los because of the deal. Hamlin also jumped in on the conversation and wondered if Cassill was also negatively affected.
Ouchie Wowie. @landoncassill you doing ok bro? https://t.co/tIifzrqMBJ
— Denny Hamlin (@dennyhamlin) January 24, 2022
ADVERTISEMENT
Article continues below this ad
ADVERTISEMENT
Article continues below this ad
What did Landon Cassill tell Denny Hamlin?
In the replies to Hamlin’s original tweet, the 32-year-old made as if to alleviate concerns and insisted that he was doing alright. Hamlin was worried because the value of Bitcoin has fallen. However, Cassill said, “[Darren] Rovel could be wrong on OBJ as he probably got his cash net of tax and bought BTC with net cash. if he sold the BTC at this price he’d have a $350k cap loss to write off. None of it is as fun as when Bitcoin is mooning but Darren obviously suckering for engagement once again.“
Soon, it appeared that even Denny Hamlin was slowly being convinced to invest in Bitcoin. In response to that, Cassill invited the Joe Gibbs Racing driver to invest in cryptocurrency via Voyager. Coming back to Odell Beckham Jr. though, his actual salary due to Bitcoin use is around $412,953 (as opposed to 750,000). To make matters worse for him, he will also be taxed at around 50.3%.
ADVERTISEMENT
Article continues below this ad
READ MORE: After Crypto Sponsors in NASCAR, Now Driver to Receive his Wages in Cryptocurrency