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#pounditWednesday, April 17, 2024

Russell Okung’s Bitcoin investment is paying off

Russell Okung

Russell Okung has been a longtime proponent of Bitcoin, and his investment in the digital currency is paying off.

In late December, Okung announced that he was investing half of his 2020 playing salary in Bitcoin. Okung made $13 million last season, so half of his salary would be around $6.5 million. If he paid about half of that amount in taxes, he was left with around 120 coins.

At the time Okung announced the move, Bitcoin was trading around $27,000 per coin. As of this weekend, the price of Bitcoin had eclipsed $60,000 to set a new all-time high. As of this writing, the price is around $54,000, which means Okung has doubled his investment and made back what he had to pay in taxes.

Okung is an interesting person to follow on Twitter and frequently tweets about why he likes Bitcoin. He has sent tweets such as this one:

Okung, 32, was the No. 6 overall pick in 2010 by the Seattle Seahawks. The two-time Pro Bowl offensive tackle has also played for the Broncos and Chargers. He spent last season with Carolina after being traded for Trai Turner.

Okung played in seven games last season and missed time due to a calf injury. Two years ago, he experienced a frightening medical scare.

H/T Big Daddy
Disclosure: Author Larry Brown owns Bitcoin

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