Odell Beckham Jr. to speak at Bitcoin Magazine BITCOIN 2022 event

Mandatory Credit: Kirby Lee-USA TODAY Sports
Mandatory Credit: Kirby Lee-USA TODAY Sports /

Former LA Rams WR Odell Beckham Jr. may not have signed with an NFL just yet, but that does not mean that the veteran free agent wide receiver is just sitting around the house waiting for the phone to ring.  He is one of the featured speakers at Bitcoin Magazines BITCOIN 2022, a four-day long ‘pilgrimage’ to learn, network, invest, and even simply sit back and enjoy the leading cryptocurrency extravaganza.

Event attendance starts at $110 for a one-day Sound Money pass on April 9th ($99 when paid in bitcoin). General Admission passes for the event are $999 ($699 if paid for with bitcoin), Industry passes run $2399 ($1,599 if paid with bitcoin), and finally the VIP experience with the Whale Pass for $16,999 ($13,999 if paid with bitcoin).

The event is in fact quite jam-packed with current active and former NFL players. The event features former NFL running back John Riggins, former NFL quarterback Matt Barkley, and of course free agent wide receiver Odell Beckham Jr.

Bitcoin, banking, and cautionary tales of investing

Of course, Odell Beckham Jr. is no stranger to cryptocurrency, having announced when signing on with the LA Rams that he would be converting some of his NFL salary dollars into Bitcoin.

Now, how did that all work out for him? Well, it just so happens that we did a feature article on Odell Beckham Jr. in November 2021 about his interest in converting his NFL compensation into Bitcoin. At the time, Odell Beckham Jr.’s theoretical conversion of his $1.25 million dollar salary and bonus would result in 22.2068 bitcoin.  As of noon on April 1, 2022, the value of bitcoin is currently estimated at $46,475. That means that the current value of his compensation in bitcoin today is worth $1,032,061, or a deflating value of over $200,000.

While many interpret cryptocurrency from the perspective of ‘currency’, it follows the principles and rules of any investment.  That means that investing in Bitcoin depends upon the anticipated future appreciation of the investment. While Bitcoin had depreciated since the November 2021 article price of 1 Bitcoin = $56,289.00, the value had dropped to $35,070 on Saturday, January 22, 2022. Since that time, the value has appreciated back to the current price of $46,475.

So it all depends on when you buy into Bitcoin, and then again when you cash out.

While I’m no expert on Bitcoin, I am cognizant enough to be aware of some of the current issues facing the investment. Indonesia is proposing a 0.1 percent tax on Crypto Transactions. The US Security and Exchange Commission (SEC) is proposing new regulations as well.

Whether you are dabbling in Bitcoin, plan to, or just want to learn more about it, you can satisfy your thirst for knowledge this month in Miami Beach. And while you’re there, look for Odell Beckham Jr. and tell him Ramblin Fan sent you. And you could mention that we are looking forward to his return to the roster.

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