Sacramento Kings to Pay Staff In Bitcoin

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Sacramento Kings to Pay Staff In Bitcoin

NBA franchise Sacramento Kings are set to offer all their staff the option of being paid in Bitcoin, according to chairman Vivek Ranadivé.

There has been no formal announcement yet, but it’s believed Ranadivé said in a Clubhouse meeting that the Bitcoin-friendly NBA franchise will announce something in the coming days.

The Clubhouse meeting was hosted by popular Bitcoiner and VC Tim Draper, and news of the announcement was immediately posted on Twitter.


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Sacramento Kings Staff: Paid In Bitcoin

The Sacramento Kings will become the first major sports club to offer Bitcoin as payment for all staff involved with the club.

The move will the NBA franchise’s Bitcoin-friendly stance, after it started accepting Bitcoin as payment

as far back as 2014.Back then the club started selling everything from match day tickets, merchandise, hot dogs and beers for Bitcoin, while a Bitcoin was trading for around $500.

Back then it partnered with BitPay to accept Bitcoin as payment, so it could further bolster its partnership with the Bitcoin payments provider.

NBA Franchise Following NFL Star Russell Okung

There is no confirmation from either Sacramento Kings or BitPay as yet, but the NBA franchise could also opt for Zap’s payment application Strike, which is being used by NFL star Russell Okung.

Offensive linesman Okung demanded for almost 2 years to be ‘paid in Bitcoin’ and was finally awarded the right by his franchise the Carolina Panthers in December.

Since then, half of Okung’s wages are immediately converted to Bitcoin, and with the value of BTC to USD up over 100% in that same period, it makes Russell Okung the highest earner in the NFL.

This has no doubt triggered the interest of other sport stars, especially in the US, who are now looking at earning their salary in Bitcoin.

The World Will Be Paid In Bitcoin

The Sacramento Kings have long been forward thinkers when it comes to Bitcoin. The franchise has been accepting it as payment since it was trading at around $500 a Bitcoin.

Fast forward eight years and a 12,000% increase and the NBA franchise is now ready to offer all of its staff the option of being paid in Bitcoin.

It shows how far Bitcoin has come, but it is really just the beginning. Like other sport stars have seen how Russell Okung is putting his hard earned wages to better use and stacking sats, others are now following.

And when other NBA, NFL and global sport teams hear of the Sacramento Kings success with its Bitcoin-friendly approach they will follow suit.

It’s all game theory, and no sports club, corporation or government will want to be left behind.

The Sacramento Kings are clearly forward-thinkers, but being paid in Bitcoin will one day become the norm and we will all have that option.

Disclaimer

Please be advised that the contents of these posts are not to be construed as investment advice. While some of our contributors may be price analysts, their opinions and analyses are personal views and are shared with the intention of promoting discourse and understanding.

Always conduct your own research and consult with a professional financial advisor before making any investment decisions. The Bitcoin market can be volatile, and past performance is not indicative of future results. Invest at your own risk.

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