Banking, finance, and taxes
Bitcoin Moves to Pro Sports -- Sacrament Kings in the NBA
Published:
The moves to adopt and destroy Bitcoin are a work in progress on both sides of the equation. It seems that each time a very negative story development comes out, then a new adoption mechanism saves Bitcoin from the trash heap. Now we have a news release that the NBA’s Sacramento Kings will be the first major professional sports franchise to accept bitcoins.
Source: Thinkstock
The press release shows that the Bitcoin purchases will be processed through BitPay. Worth noting is that the Kings have a very new owner, Vivek Ranadivé. He is said to be directing a business philosophy coined “NBA 3.0” with a focus on technology, globalization and deep community partnerships. What is interesting here is not just the Ranadivé is an Indian businessman, but that he founded TIBCO Software.
The Kings have begun to accept bitcoins in the Kings Team Store. The store will allow fans to pay online with bitcoins for team merchandise and tickets by March 1.
If one NBA team is doing it, others are likely to follow. If the NBA is going to accept it, why not the NFL, MLB and other professional sports leagues?
Bitcoin was trading between $920 and $930 on Thursday.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
