"Lava, a leading bitcoin fintech company backed by Peter Thiel's Founders Fund and Khosla Ventures, today announced an angel investment from Alex Crognale, the first professional soccer player in the United States League (USL) to receive a portion of his salary in bitcoin. The investment aligns with the launch of Lava's innovative "Get Paid in Bitcoin" feature, which enables users to seamlessly convert their paychecks into bitcoin with "zero fees", according to a press release shared with Bitcoin Magazine."
"Crognale, a defender for San Antonio FC, gained attention in 2021 when he opted to receive part of his salary in bitcoin. Since October 2021, when he publicly announced his first salary payment in bitcoin, the asset has grown roughly 136% to $124,000, giving him plenty of time to grow his bitcoin treasure with further salary payments in the meantime."
"Lava's "Get Paid in Bitcoin" feature allows users to direct-deposit their paychecks into the Lava app, available on iOS and Android, and automatically convert them into bitcoin without incurring fees. This feature supports dollar-cost averaging (DCA), a strategy favored by bitcoin investors for its ability to mitigate volatility through regular purchases regardless of the price. Additionally, Lava enables users to borrow against their bitcoin hol"
Lava is a bitcoin-focused fintech backed by Founders Fund and Khosla Ventures that received an angel investment from Alex Crognale, a professional USL soccer defender who accepted part of his salary in bitcoin. Crognale's initial bitcoin salary announced in October 2021 has appreciated roughly 136% to about $124,000. Lava launched a "Get Paid in Bitcoin" feature enabling direct-deposit paychecks into the Lava app on iOS and Android with automatic conversion to bitcoin and zero fees. The feature supports dollar-cost averaging and allows borrowing against bitcoin holdings. The investment amount was not disclosed and Crognale will be both an investor and a user.
Read at Bitcoin Magazine
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