Nets’ guard Spencer Dinwiddie to convert his contract into a digital investment
Advantages of cryptocurrencies are being realized by heavy-weights because of its secure and high return value. In line with this, Brooklyn Nets guard Spencer Dinwiddie is moving ahead with converting his existing contract into a digital investment vehicle. According to the reports, Dinwiddie will receive an upfront lump payment after this conversion.
By securitizing his contract, Dinwiddie will gain access to an up-front lump-sum payment, which would then allow him to immediately invest in a bond that exists as a digital currency.
In this deal, Dinwiddie will convert significant part his contract amount, $34.36 million, that he will receive during his contract extension of three years.
This update was shared by @schuck3 over Twitter,
“Sources: Spencer Dinwiddie to convert his NBA contract into a secured digital investment.”
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Mark Prestwood, Khareem Sudlow