NFL executives and financial advisors tried to stop Russell Okung. Even his own mother, Dorthy, was concerned. It was too late.
The two-time Pro Bowl offensive lineman was already committed to converting half his $13 million salary in 2020 with the Carolina Panthers into bitcoin. He was met with skepticism and widely ridiculed by his peers and others, but he’s getting the last laugh four years later as the price of bitcoin has surged past $90,000 for the first time in the wake of Donald J. Trump winning the U.S. presidential election.
It wasn’t easy for Okung. He was forced to be creative navigating around the bylaws in the league’s collective bargaining agreement. The $6.5 million, which was converted out of a trust with the help of Jack Mallers’ bitcoin investment platform Zap, is now worth more than triple that today.
“I’m enjoying the victory lap,” he said in a video interview. “It’s been incredible timing and an incredible story.”
Okung does not plan to cash out. In fact, he still is picking up more bitcoin. “I didn’t get paid in bitcoin to trade it for dollars,” he said. “I did it to change my family’s future.”
Okung, 36, has held bitcoin since 2017, studying the up-and-down cycles. The 11-year NFL veteran believes his bitcoin plays are less about returns and more about “raising consciousness” and highlighting the possibilities surrounding digital assets while challenging the financial status quo.
The former NFLPA executive committee member, who has earned more than $108 million in career earnings, is the first NFL player to successfully convert a portion of his salary into bitcoin. Other NFL players have since followed, including New York Jets quarterback Aaron Rodgers and Miami Dolphins receiver Odell Beckham Jr., who also recently took to X to clap back at naysayers who questioned the move.
Okung, who hasn’t played since 2020, is doubling down on his crypto bullishness and mixing it with sports.
This past week, he launched Bitball, a sports league venture that will pay participating athletes in bitcoin. The brand is launching with a focus on flag football with ambitions of expanding to other sports. The inaugural 7-on-7 game on Dec. 10 at Al Nahyan Stadium in Abu Dhabi will feature about two dozen current and former pro football players, including ex-Pittsburgh Steelers stars Antonio Brown and Le’Veon Bell. Participants will be paid in bitcoin immediately after the competition.
The pilot event is being done in partnership with the highly anticipated Bitcoin MENA conference which ends that day (with all conference ticket holders getting free access to the game). Okung’s new digital-focused sports league aims to leverage the growing popularity of flag football, which is being driven by the NFL as part of its globalization strategy and will be included in the 2028 Summer Olympic Games in Los Angeles.
“Can we imagine a league where players earn bitcoin, and fans have real stakes while communities build wealth? My answer is yes,” Okung said. “It’s an evolution. The goal is to have no more broken athletes. We don’t lose generational wealth.”
The idea of Bitball was born out of frustration after Okung was mocked and dismissed by team owners and league executives for previously trying to get more crypto-friendly language in the CBA during the last negotiations when he served as vice president. The former Super Bowl champion, one of most vocal crypto advocates in sports, hopes Bitball will be the catalyst that will get sports leagues to be more open-minded about providing alterative payments via crypto for their players.
“People thought it was cool when I got bitcoin (returns) in that one day,” he said. “Imagine 24 guys getting their first bitcoin in the same day.”
