The Sacramento Kings will become the first major sports franchise to offer a bitcoin payment option to all players and staff, Coindesk reports.
The backdrop: Russell Okung made headlines in December for becoming the first NFL player to convert some of his salary into bitcoin.
What they’re saying: “I’m going to offer everyone in the Kings organization … as much of their salary in bitcoin as they want,” team chairman Vivek Ranadivé said on Clubhouse on Monday.
Why it matters: As bitcoin gains popularity, mainstream adoption by well-known organizations like the Kings effectively acts as marketing for all forms of cryptocurrency.
- It’s also great marketing for the organization, itself. The Kings will get plenty of press out of this and can position themselves as a “forward-thinking franchise.”
Why it doesn’t: An athlete getting paid in bitcoin is no different than an athlete getting paid in dollars, then using those dollars to buy bitcoin.
- It eliminates one step, which is certainly valuable for athletes who don’t want to buy bitcoin themselves. But this isn’t as groundbreaking as some might lead you to believe.
