College Football Player Is Getting Paid Partially In Bitcoin

12/19/2024 03:29 PM

While many college athletes are getting money for NIL deals that were never previously available, some are using the wild west of NIL money to make different financial choices. One player agreed to accept some of his earnings in Bitcoin.

On Thursday, USC linebacker signee Matai Tagoa'i announced that he has accepted part of his future NIL earnings with the Trojans in Bitcoin. On3 Sports reports that he is believed to be the first college athlete to accept his earnings in that method.

Tagoa'i is a four-star prospect and 247Sports' No. 87 overall prospect in the Class of 2025. He is the No. 5 linebacker in the nation and the No. 7 player from the state of California.

In a statement, Tagoa'i called the decision "a game-changer" that will set himself up for long-term financial growth. He said that he hopes to set an example for other athletes thinking about their financial future.

"This is a game-changer for me," Tagoa'i said, via On3. "By taking part of my NIL earnings in Bitcoin, I'm setting myself up for long-term financial growth. I'm grateful to Strike, House of Victory and 3Point0 Labs for helping me take this step. I'm proud to be part of this innovative collaboration that's redefining the future of college athletics and finance and hope to set an example for other young athletes to think about their financial future."

NEW: USC linebacker signee Matai Tagoa'i is accepting part of his NIL earnings in Bitcoin📈📉 https://t.co/PItVGVLX65pic.twitter.com/GPyXIejSM7

— On3 (@On3sports) December 19, 2024

USC's House of Victory NIL collective helped facilitate the move. In a statement, House of Victory executive director Spencer Harris said it was proud to be a part of Tagoa'i's historic move.

"House of Victory is proud to be at the forefront of developments in the NIL space and to provide unparalleled access and opportunities for our student-athletes," Harris said. "We're proud to help facilitate this arrangement for Matai and help him achieve his goals on and off the field..."

Technically the move is functionally the same as simply taking the money and immediately investing it into Bitcoin, so there was probably some sort of added incentive for doing it in this way as an announcement rather than in private.

But the thrust of the idea is certainly sound. Whether you like Bitcoin, other cryptocurrencies or more traditional investment options, taking NIL money and investing it rather than spending it is certainly a smart way to approach it.

Related: An NFL Player Is Receiving Half Of His Contract In Bitcoin