Bitcoin and other cryptocurrencies are increasingly making appearances in the world of sports. The latest team to enter the cryptocurrency world is Australian Baseball League club Perth Heat. On Wednesday, the club announced that it integrated crypto payments into its operations. The Heat said they had partnered with OpenNode to accept and send Bitcoin payments powered by the Lightning Network.
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The Baseball club is one of Australia’s most successful teams, having won four ABL championships since the league’s formation in 2010. It claims it is the first professional sports club in the world to fully embrace the digital currency.Perth Heat Integrates Bitcoin Payment
The baseball club has rebranded itself to be called “the Bitcoin baseball team.”
As part of the partnership with OpenNode, Perth Heat is setting Bitcoin as the new standard for payments and payouts. Players and staff will get their pay in Bitcoin, although it is not mandatory. Players can still be paid in traditional fiat or partially in Bitcoin. However, the club’s CEO, Steven Nelkovski, said that all current employees of the club were on board with the scheme.BTC trading at $59.55K | Source: BTCUSD on TradingView.com
“By embracing the underlying values of the Bitcoin protocol, we believe that the organization can reach new levels of success both on and off the field and remind the world of the true value of sports. We know the community looks to the Perth Heat as a model of success and we hope our adoption of a Bitcoin Standard will inspire others to embrace a monetary system that demands value creation to thrive,” said Nelkovski.
As part of its Bitcoin adoption efforts, the club also plans to “Hodl Bitcoin on the club’s balance sheet.”
Patrick O’Sullivan, Perth Heat’s new Chief Bitcoin Officer, shed more light on the club’s latest strategic move. He said it is a way of securing its...