The central theses
- The Oakland A’s sell year-round seating for Bitcoin.
- President Dave Kaval said he has received more than 100 inquiries and is hoping to make two to three sales by next Thursday.
- Other professional sports teams like the NBA’s Dallas Mavericks and the NFL’s Miami Dolphins have previously accepted crypto.
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According to an interview that Bloomberg Technology aired on March 26, the professional baseball team Oakland Athletics accepts Bitcoin as a means of payment for suites for the entire season.
One bitcoin per suite
Previously, team president Dave Kaval announced that his team would like to accept Bitcoin as a means of payment for stadium suites for the entire season, which can accommodate up to six people. Instead of selling individual tickets, the team decided to sell a suite for 1 BTC regardless of bitcoin prices.
At current Bitcoin prices, that means seasonal access to a suite can be purchased for around $ 57,500.
In this week’s interview, Kaval said that he has received more than 100 inquiries so far. There are ten stadium suites reserved for the offer, and he hopes two or three deals will be closed by the season’s opening date next Thursday.
He added that the team could accept other cryptocurrencies in the future as it relies on the BitPay payment processor. He didn’t say if the team would accept cryptocurrency for standard tickets.
Finally, Kaval stated that the team will not be withdrawing its BTC for fiat currencies. Instead, it plans to hold the bitcoin it has received in the hopes that the cryptocurrency will increase in value.
Other sports teams accept Crypto
Several other professional sports teams have previously decided to accept cryptocurrency as a means of payment.
In early March, the NBA’s Dallas Mavericks added Dogecoin to their range of supported cryptocurrencies, having first supported crypto in 2019. Previously, the NFL’s Miami Dolphins had partnered with the Litecoin Foundation to partially accept LTC. The NBA’s Sacramento Kings were one of the earliest to accept cryptocurrency in 2014.
Other crypto-related activities outside of retail payments are also ongoing. In particular, the FTX crypto exchange has just successfully received the naming rights for the home stadium of the Miami Heats.
At the time of writing, this author owned less than $ 75 in Bitcoin, Ethereum, and Altcoins.
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