Tuesday, January 25, 2022

Odell Beckham Jr Suffers Big Bitcoin Loss


Back in November Los Angeles Rams wide receiver Odell Beckham Jr. announced he would be taking his 2021 salary in Bitcoin. 

This week Bitcoin's stock worth plunged, taking Beckham's salary with it...

Based on Monday’s bitcoin prices, and assuming that Beckham did convert a lump sum of $750,000 into bitcoin when the deal was made in November, that salary would now be worth about $401,500, and, despite the drop in value, he would still have to pay taxes on income as provided to him at its $750,000 value.
Because it is not known whether Beckham moved the $750,000 sum all at once into bitcoin or spread it over multiple conversions, it’s difficult to pinpoint an exact dollar figure for Beckham’s losses. If the deposit was made on Nov. 12, that investment is now worth around $35,000 after federal and state taxes, according to Darren Rovell of the Action Network and formerly of ESPN and CNBC.



16 comments:

Anonymous said...

It's temporary, Bitcoin will bounce back.

Sunno said...

That's too much money to play that risky with.

Anon said...

My Crypto portfolio is so depressing right now...I deliberately lost my wallet password to prevent me from checking the balance anymore....Ima just erase Crypto from my memory and carry on as if nothing happened.

Bitcoin?..What the hell is Bitcoin? Never heard of it.🙄😂🤣

The King Of The Real said...

Dumbass, getting paid in fake money

Anonymous said...

I don't know what it is and don't care to find out. I want to see all my coins in dollars. That fake money is in the air somewhere or Yt's is spending it on a yacht in the Caribbean laughing at the dummies that bought into the worthless scheme. The new Ponzi.

Anonymous said...

He'll be fine.

Unknown said...

Bitcoin been on the decline for the last 2 years. Last year, around June, I invested $100 in some crypto coins and by Jan, I lost $80. I'm good. Any money worth making was done by January 2021.

Anonymous said...

If you got money invested into Bitcoin, you'd better pull out now! There is an active global military operation to shut down all Bitcoin mining. Bitcoin was invented by the CIA, Rothschilds, UK Royals, and Guthrie Castle to fund their nefarious activities such as their sophisticated child sex trafficking ring, drugs, and weapons. That's why Bitcoin was able to get away with being unregulated by the SEC. They put the mining mainly in the hands of the Chinese Communist Party. More than 40% of Bitcoin mining has been destroyed across the world, and the rest is going bye bye in 2022. This will be a crash like nothing the world has ever seen.

Unknown said...

Who the hell puts money in that mess anyway?

whomp whomp said...

Oh man people get so hysterical about this shit. Have you looked at your 401k lately? It’s down too. It’s freaking January, sit down. Ever thought how much you’re losing year over year to run away inflation? Hmmm look it up.

Panic pulling out as 12:54 advises when the markets ALL MARKETS are down is dumb as hell. That’s one way to realize losses. If you zoom out you see this happens every year near the beginning of the year but if you aren’t looking at 30 day charts you’ll see thus shit is still way up. Anyone who bought Jan 2021 is in the green and we’ve solidified support at this level. The next bounce will be chill af. Meanwhile, how much you yielding off that savings fam? Certainly not 7-11%. He’ll be fine and every 4 years there a major cycle THAT FOLLOWS THE STOCK MARKET.

No serious crypto investor just puts their money in crypto and let’s it sit in a wallet. When all is said and done he’ll have more crypto than when he started which will easily cover the tax. He probably parked his bitcoin in a high yield liquidity pool and earning more every day. When the markets (ALL MARKETS) go back up he’ll have made exponentially more. If he had a hood money manager he shifted to stable coins beforehand the dip and bought the dip to expand his positionnn

Meanwhile I shifted all my ETH into NFTs before the dip and my bags are pumped af up 70% in value mmmmk bye. Y’all need to sit down and learn something before inflation turns your bank accounts into dust. It’s not like he got paid in DOGE.

whomp whomp said...

https://twitter.com/shahineezell/status/1486045111876157444?s=21

^^^ Funny exchange I read between someone and the writer of the yahoo version of this story. That writer just basically put his foot in his mouth for denationalizing exactly what I explained to some y’all dummies that comment based on hype than real education or understanding.

Real investors buy and hold for years. Diamond hands aren’t shook by temporary drama like this and they don’t say trade like idiots trying to get rich quick. You gotta hold for at least a year to even avoid capital gains taxes. SMH for real. This man is not living check to check.

whomp whomp said...

Edit ** That writer just basically put his foot in his mouth for sensationalizing exactly what I explained

Anonymous said...

Playing monopoly with real money with a system that is an ATM for the big fish after they eat the small fish cash. Play stupid games, you'll get stupid prizes.

Anonymous said...

@6:22 Hey know it all...FYI, the Rothschild's fiat SWIFT Financial System was dissolved effective 1/1/22. We are now on the Quantum Financial System. The new rainbow currency that will begin circulating within the next few months, is now backed by gold and precious metals. Bitcoin was never backed by anything. It is nothing but a ponzi scheme. It's as worthless as this fiat currency we're currently using that is about to go out of circulation. Once this Bitcoin crash happens 95% of existing crypto will become obsolete, because it's connected to SWIFT. The 5% that will remain will be regulated by the SEC. This will be the greatest transfer of wealth in the history mankind. Bet your know-it-all ass doesn't know which are part of the 5%. But I do! LOL

WiserWords2 said...

Some folks need to learn to take a little bit of that profit when prices are UP.

whomp whomp said...

Who says he didn’t? ^^^^

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