Odell Beckham Jr. Loses Most Of His Salary Due To Bitcoin Dip

Don Homer

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Coli brehs, in all seriousness, should i dedicate one paycheck to investing in bitcoiin? :jbhmm:
 

DPresidential

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His salary was converted to Bitcoin. At the time his 750,000 was around 12 Bitcoin.

12 Bitcoin today is around $1.1 million.

He's up but had he just bought 750k of Bitcoin two months later he would've had 21 Bitcoin instead of 12.

He's still up on his investment though and who knows how high Bitcoin will go. He may have already owned some Bitcoin before the Rams contract and could have bought more on his own when the price went down. We don't know what's in his portfolio.
I feel you.

Now, had he put $750,000 in a mutual fund or in the SPY ETF, he'd have gained about 9% per year. After three years, that would be around $998,000.

So, the real question is, was the volatility and risk associated with crypto worth it when he could have slept much easier placing his money in SPY.

Not trying to troll, I'm legit interested in this topic. Had the election gone a different way and BITCOIN not react the way it did, he'd have been looking at his investment much different.

Thoughts?
 

jerniebert

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Coli brehs, in all seriousness, should i dedicate one paycheck to investing in bitcoiin? :jbhmm:

Wait until it drops again. Crypto always does good during election season and then dips for 3 years. Mid December is when you start seeing it go down and by January people are crying because they're broke.

:mjgrin:
 

MyApps

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Wait until it drops again. Crypto always does good during election season and then dips for 3 years. Mid December is when you start seeing it go down and by January people are crying because they're broke.

:mjgrin:
It WILL drop again.

However, every drop has been to the previous high point of the currency. So about 60,000 again.

And next run up will be to around 150,000.

There's been a pattern over the years.

With patience as a foundation, OBJ decision was shrewd.
 

jerniebert

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It WILL drop again.

However, every drop has been to the previous high point of the currency. So about 60,000 again.

And next run up will be to around 150,000.

There's been a pattern over the years.

With patience as a foundation, OBJ decision was shrewd.

Yep. I started during the 2016 election season. It's the same pattern every four years. It's almost like they use it to buy elections.

:mjgrin:
 

Supa

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I feel you.

Now, had he put $750,000 in a mutual fund or in the SPY ETF, he'd have gained about 9% per year. After three years, that would be around $998,000.

So, the real question is, was the volatility and risk associated with crypto worth it when he could have slept much easier placing his money in SPY.

Not trying to troll, I'm legit interested in this topic. Had the election gone a different way and BITCOIN not react the way it did, he'd have been looking at his investment much different.

Thoughts?

I've been buying/trading crypto since 2018. 9% a year ain't moving me when I've bought coins Monday and woke up Tuesday to a 200% profit. Most of the Ethereum I hold I bought in 2020 at $200. The volatility is what makes crypto unique. You don't play for small gains over time.

Bitcoin going over 100k has been on the table years before Odell made that move. There was a player on the Seahawks who was getting some of his salary converted well before Odell. He still owns multiple Bitcoin so he's set up for the long run because the value is in its scarcity.

I think Bitcoin would've gone up even with Kamala winning just maybe not as swiftly.
 
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