Sean Culkin is cut from the Kansas City Chiefs after declaring the crypto move on his entire salary.
Crypto adoptions have ranged from various forms of organizational adoption to retail crowd investments. Different sectors of global industries have all, in one way or the other, joined in on the crypto bandwagon. Now we look at the NFL sports community with one peculiar player that tried out for the Kansas City Chiefs. He is the pro-bitcoin football player Sean Culkin. He had announced converting his entire salary to bitcoin, but unfortunately, he failed to make the team.
Major Updates
- The player has decided to digitize his entire 2021 salary.
- Culkin had turned pro-Bitcoin in March last year.
- The player plans to utilize the Zap’s Strike platform.
Like the cryptocurrency move by offensive player Russell Okung, Culkin had planned to do the same. Whereas Okung only converted a part of his salary, Culling finds himself planning to invest his entire year’s salary.
He would even be using the same convention platform Okung used —Zap’s Strike. There, he would take biweekly statistics on his salary in bitcoins.
However, many believe that this move of the NFL player would not end well. This is due to the heavy emphasis on crypto investments only taking up a percentage of one’s entire portfolio. Most of the time, it is advised that 10% of one’s portfolio should be invested. Culkin had admitted to his decision appearing seemingly unwise.
However, he stated that extensive personal research had been carried out on the risk factors, parameters, and long-term conviction in the cryptocurrency. He had concluded that the decision was right for him.
He further explained his early interest in Bitcoin peaked in March 2020. Although it was in the summer of 2016 that he had first become aware of the cryptocurrency.
Conclusion
Rusell also stated that my bearish market actions did not move him and significant dips as the platform would carry out the conversion regardless. This is so that the player could focus on his career rather than dealing with the psychological effects of the volatile market.
However, in all this, Sean Culkin never made it on the Kansas City Chiefs roster. He was cut from the team on Monday.
Question of the Day
Do you think Culkin will still go on with his plans with another team?
