Russell Okung's $6.5M Bitcoin Salary in 2020 Panthers Contract Now Worth $20M

Adam WellsNovember 12, 2024

CHARLOTTE, NORTH CAROLINA - AUGUST 24: Russell Okung #76 of the Carolina Panthers waits between drills during a training camp session at Bank of America Stadium on August 24, 2020 in Charlotte, North Carolina. (Photo by Grant Halverson/Getty Images)

Grant Halverson/Getty Images

Russell Okung's bet on Bitcoin four years ago when he was a member of the Carolina Panthers is paying off handsomely.

Per Amit Kumar Jha of Essentially Sports, the former offensive tackle turned his $6.5 million salary in 2020 into $20 million today by being paid in the cryptocurrency.

Okung's salary in 2020 was $13 million, which he requested half of to be paid in Bitcoin.

Bleacher Report @BleacherReport
Panthers OT Russell Okung will get half of his $13M contract paid in bitcoin 💰 <a href="https://twitter.com/brgridiron?ref_src=twsrc%5Etfw">@brgridiron</a> <a href="https://t.co/SAZsqeEALy">pic.twitter.com/SAZsqeEALy</a>

William Foxley of CoinDesk.com noted in December 2020 the Panthers partnered with Bitcoin platform Zap to split Okung's salary for the season.

The Panthers deposited $6.5 million into Zap's Strike product that allowed traditional paychecks to be converted into Bitcoin, which is sent to a cold storage wallet that belongs to Okung.

Okung, who earned $108.9 million in contracts during his NFL career, was more than happy to take a victory lap after more than tripling his $6.5 million Bitcoin gamble.

OKUNG 🐆 @RussellOkung
odd how the NFL spent millions teaching us not to go broke, but the billionaire owners never shared how to build wealth.<br><br>all I did was buy bitcoin, now we make history.

OKUNG 🐆 @RussellOkung
started acquiring bitcoin and someone sent me espn 30 for 30 on athletes going broke.<br><br>good thing I didn't listen to you.

OKUNG 🐆 @RussellOkung
normal is a trap. I dumped all our bonds because I believed. financial advisors questioned me. <a href="https://t.co/kJHY7TOSyl">https://t.co/kJHY7TOSyl</a>

The 36-year-old Okung was a first-round draft pick by the Seattle Seahawks in 2010. He started 131 games in 11 seasons with four different teams, with the 2020 season being his final year in the NFL.

Okung was a two-time Pro Bowl selection and won a Super Bowl as a member of the 2013 Seahawks team.