Skip to main content

Andre Iguodala and Klay Thompson reportedly lost millions in salary due to the crypto crash

Golden State Warriors star Andre Iguodala and Klay Thompson might have lost millions after agreeing to be paid a chunk of their salaries via Bitcoin last January.
Golden State Warriors guard Andre Iguodala and guard Klay Thompson

Andre Iguodala and Klay Thompson

The recent crypto crash has taught countless people to be wary when dealing with volatile digital assets. For Klay Thompson and Andre Iguodala, it might be a costly lesson as they can reportedly lose millions' worth of salary due to the sharp drop in Bitcoin's (BTC) value.

"In January of this year, Andre Iguodala and Klay Thompson signed up to receive a portion of that year's salary in Bitcoin," wrote Marcin Dragunov of Crypto Mode. "This was done in conjunction with Cash App, a digital bank. The championship team athletes were to receive their BTC tokens through the app in celebration of its new trading options; to buy and sell cryptos."


When the Golden State Warriors stars signed the agreement in January, BTC was still valued at nearly $35,000. There was a widely held belief that the cryptocurrency would grow more. After all, its all-time high value was $68,000, which it hit just a few months prior.

Thompson and Iguodala shared this belief via separate tweets.

Scroll to Continue

Recommended Articles

According to Buy Bitcoin Worldwide, Iguodala received $2.647 million of his salary in BTC. If the digital currency's value now (around $16,000) is less than half of what it was in January, then the former Finals MVP could have lost more than $1.4 million per Crypto Mode's calculation.

As for Thompson, the portion of his salary invested in BTC was undisclosed. But considering that his contract is significantly higher than that of his Warriors teammate, there is a possibility that the five-time All-Star has more money tied up in the cryptocurrency.

Lesson learned

Looking at the bigger picture, the loss might not seem that significant for the Warriors' wing duo, especially since they have earned a lot more than their reported losses throughout the duration of their careers.

Also, one of the most important investment adages is never to put all your eggs in one basket. There is a huge chance that Thompson's and Iguodala's portfolios are hedged against extremely risky vehicles, such as digital assets.

Another possibility is that they could have already converted their coins or tokens to fiat cash before BTC massively dropped in value.

Still, there is a lesson to be had here for other NBA players and other athletes - that is to be prepared for the worst when investing in or being paid through a highly volatile currency, such as BTC.

Chicago Bulls guard Michael Jordan in action against the Boston Celtics

“They never won the championship when they had 28 teams and so much parity in the league” - Michael Jordan once dissed the Boston Celtics’ early championships

While the C's are always praised for being a historic franchise and having the most championships many, including Michael Jordan, feel there's a caveat in regards to their achievements.

(11) Dwight Howard, (10) Kobe Bryant, (6) LeBron James and (5)Jason Kidd react on the bench

"They're totally different as far as their personalities" - Dwight Howard on the biggest differences between Kobe Bryant and LeBron James

According to DH12, one preferred to be straightforward and quiet, while the other was the type to blast music and let his work do the talking.

LeBron James

LeBron James calls out the media for their treatment of Kyrie Irving compared to Dallas Cowboys owner Jerry Jones - "I was kind of disappointed"

LeBron calls out the media for having double standards when reporting about Kyrie Irving and Dallas Cowboys owner Jerry Jones

San Antonio Spurs forward Tim Duncan (right) and teammate Stephen Jackson (3) talk to each other

“How are we gonna explain this to Pop?” - How a bloody paintball match almost got Stephen Jackson and Tim Duncan in deep trouble

Fortunately, a busted lip was all the penalty Stephen Jackson had to endure for not following Gregg Popovich's instructions.

Houston Rockets' big man Hakeem Olajuwon and Ralph Sampson

"We were the original 'Twin Towers'” - Ralph Samson on playing with Hakeem Olajuwon in the Houston Rockets

Ralph Sampson looked back at his legacy with Hakeem Olajuwon as the original "Twin Towers."