Major League Baseball’s Oakland Athletics are the latest organization to begin accepting Bitcoin as a payment method.
Valid through April 1, the team is offering a full season, six-person suite for the 2021 season. At the price of 1 Bitcoin (BTC), currently valued at $57,653.
The fiat currency price for a suite is fixed at $64,800, so fans can save roughly $7,000 by paying with Bitcoin. “Part of the reason we’re doing this is the price makes sense,” said Athletics president Dave Kaval.
“Since a Bitcoin is worth about the same as a season suite it gives our fans some different choices. And it kind of tests it to see if it’s something we’d like to do in more aspects of our business.”
Another reason why the Athletics are engaging with crypto is because of its popularity in the state of California. “Especially in the Bay Area you see more people discussing or transacting with Bitcoin,” Kaval added.
The Oakland Athletics will be offering 100 full season suites, priced at 1 BTC, this season. As it stands, the team will be allowed to welcome back fans at a 20% capacity. Subject to COVID-19 cases remaining under control according to California Governor Gavin Newsom.
Sports and cryptocurrencies have intertwined as of late, with NBA Top Shot surging in popularity. Users can purchase virtual cards via Dapper Labs’ blockchain and have the options to hold, sell or gift them to other collectors.
Another example of the sports and crypto worlds getting together is when bidders forked out millions of dollars. For tokenized art from former second baseman Micah Johnson.
Blockchain sports firm Chiliz trying to establish relationship with MLB
Similar to Dapper Labs’ partnership with the NBA, blockchain sports firms Chiliz is attempting to establish a relationship with MLB. Recognizing the game as a potentially lucrative route to mass adoption of the technology.