Cryptocurrency News

NBA’s Sacramento Kings Wants To Pay Players With Bitcoin

The leading and most valuable digital asset off the Blockchain space- Bitcoin, continues to be admired by all. The digital asset is not only the most coveted but has also found its way into mainstream society. Many spheres of life are now adopting the cryptocurrency as a legal tender, used to ensure business transactions are smooth globally. However, it appears that it has now made its way into American Basketball, as the Chairman of NBA’s Sacramento King- Vivek Ranadive, has confirmed to the press that there is now an option for the players and staff in his club to earn their wages in Bitcoin.

Sacramento Kings and Ranadivé are big admirers of cryptocurrency

The club chief, who spoke at a Satoshi Roundtable meeting on Clubhouse, disclosed the club’s latest innovation to his audience. He confirmed that the club and its Executives have concluded paying their staff and players with Bitcoin, should they ever prefer the option. Surprisingly, they are now the first NBA side who have either contemplated or used Bitcoin for payment services in the league’s history.

The words of Ranadivé were echoed on popular social media- Twitter by Neil Jacobs, who tweeted the official message of the Club Chief. Many crypto analysts have now reacted as the news broke, suggesting that Ranadivé and his side are about to write history in the league.

However, Ranadivé and Sacramento are not new players in th Bitcoin community, as they have always prided themselves as one of the top admirers of cryptocurrency in the league. In 2014, Sacramento Kings announced, much to the delight of their crypto fans, that they have partnered with Bitpay. The partnership with Bitpay, according to the announcement, will allow the fans of the club to purchase various sports kits with Bitcoin and other cryptocurrencies.

NBA starting to flirt around crypto

The basketball club, whose involvement with Bitcoin started at least seven years ago, confirmed that they had registered a Bitcoin mining plant in 2018. According to Ranadivé, the proceeds generated from the mining firm are donated to charity annually. The crypto adoption of Ranadivé and Sacramento Kings has also seen the club create fan tokens- KingsToken, created with Blockparty in 2019.

According to the NBA club, the fan tokens will create a deep bond between the club and its fans, as fans will be able to participate in more club activities via the ownership of these tokens. While Sacramento Kings want to pay their staff and players with Bitcoin, Mark Cuban-Owned Dallas Maverick has also announced that they have started to accept payment for their club kits and accessories with Bitcoin.

The NBA side has also announced that the Dogecoin token holders can now pay for their game tickets with the cryptocurrency. However, the implication of these innovations will see cryptocurrency adoption in the NBA go higher than it is, a situation that will excite the American crypto community.

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