United Soccer League (USL) footballer, Alex Crognale now receives as much as 15% of his salary from his club, Birmingham Legion in Bitcoin (BTC).
The move, which was confirmed by the professional footballer, was the first of such in the USL, and the salary payment is being facilitated by crypto service provider Bitwage.
“I have been buying Bitcoin since 2020 using various exchanges, Coinbase, Binance, CashApp, I’ve tried them all,” said Crognale, adding that: “the Bitwage platform allows me to dollar-cost average into Bitcoin with ease and without transaction fees. I have a percentage of my salary paid in cryptocurrency that is direct-deposited into my wallet.”
Crognale is a graduate of economics, a qualification that makes him see the superiority in holding Bitcoin in the place of fiat currencies amid the broad economic mishaps.
“The United States Federal Reserve responded to the damaging impact of COVID-19 lockdowns by printing massive amounts of US dollars,” he commented. “The more stimulus money pumped into the economy, the less the dollars in our pockets are worth. Quantitative easing was necessary to keep our country from falling into a depression, but the long-term impact was understated if mentioned at all.”
After finding the light, Crognale said he will now be looking forward to educating others to embrace Bitcoin, which he now sees as ‘sound money’.
Sporting icons and organizations have become increasingly appreciative of blockchain innovation, and its unique expressions including cryptocurrencies. Many sports teams now accept digital currencies for their merchandise, with a prominent example being Dallas Mavericks which now accepts Dogecoin as payment.
Endorsement deals, salaries, and sponsorship deals are now also being paid in digital currencies, expanding the reach of the nascent asset class which many critics say is too volatile.
Image source: Columbuscrew.com