NFL Superstar, Russell Okung, became a Bitcoin educator about two years ago. Recently, he hosted the first Bitcoin is_ Conference on September 1, 2019. The offensive tackle for Los Angeles Chargers at NFL explained what motivates him to increase Bitcoin adoption.
Russell has also called for the multi-million dollar in sports players’ salaries to be paid in Bitcoin as well. The backlash to be paid in crypto started after he realized that banks could control anyone’s money.
Mati Greenspan, the Senior Market Analyst at eToro cited from Russell’s experiences. He stated that he was prohibited from transferring his own hard-earned money to Nigeria. He added,
Then when he visited Nigeria the banks didn’t let him transfer any of his own money. That’s when he realized that it wasn’t really his.
The lead panel at the event included Anthony Pompliano, the founder of Morgan Creek Digital, Bitcoin educator Jimmy Song, Mati Greenspan, and Peter McCormack. Some would call it the perfect recipe for Bitcoin maximalists.
The attendees of the conference also included NBA player, Spencer Dwindle, who as Pompliano tweeted is a “bitcoiner” as well.
The Why of Bitcoin
According to Russell Okung, Bitcoin closely correlates with freedom. He believes that “Bitcoin is the money of the people” who can choose to spend it in any way they want. Russell strongly advocates the ‘long Bitcoin, short the bankers’ slogan made famous by Anthony.
While the growth of the community adds to the Lindy Effect in Bitcoin, the adoption in the Financial Services industry is still dependent on the approval from regulators.
Nevertheless, the recent economic turmoil in global finances has built a strong case for Bitcoin. Anthony Elia from Huobi Exchange tweeted,
Bitcoin wouldn’t have a use case if governments and central banks didn’t manipulate money.
Global debt just hit $246.5 TRILLION.
Wondering who has to pay this bill?
The next generation we've just robbed of a future.
— Rhythm (@Rhythmtrader) September 3, 2019
The Central Banks and Federal institutions all around the world are reeling under extreme pressure of the rising debts in the economy. The fiat currency will likely bear the brunt with a fall. In the slowing economy, assets like gold and silver are bound to grow. Hence, Bitcoin and crypto as virtual assets could play a massive role in keeping the wheels churning in the new digital age.
Do you think that these arguments define the use case for Bitcoin? Please share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com