Perth Heat will pay players and staff in Bitcoin

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A representation of the Bitcoin virtual cryptocurrency can be seen in this photo illustration taken on October 19, 2021. REUTERS / Edgar Su / File Photo / File Photo

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Nov. 17 (Reuters) – Perth Heat, one of the most successful Australian Baseball League teams, entered the cryptocurrency market on Wednesday saying it would pay players and staff in bitcoin, adding that ‘she was the first team to do so in the world.

The Heat, which has won four ABL championships in the modern era, said it has partnered with Bitcoin company OpenNode to accept and send Bitcoin payments powered by the Lightning Network.

Cryptocurrency has gradually made its appearance in the world of sports with Italian football teams entering into sponsorship deals with crypto exchange companies, for example.

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However, the Heat said it was the first time that a team had fully embraced cryptocurrency, envisioning a future where fans could also pay for goods and food when playing with Bitcoin.

“We know the community sees Heat as a role model for success and hope that our adoption of a Bitcoin standard will inspire others to embrace a monetary system that requires value creation to thrive,” said Heat CEO Steven Nelkovski , in a press release.

“Players and organizational staff have fully embraced the opportunities that being paid in Bitcoin can offer.”

Bitcoin payments aren’t meant to be mandatory, which can be a relief given the volatility of the cryptocurrency market.

Bitcoin and Ether, the world’s two largest cryptocurrencies, remained weak on Wednesday and near critical levels that analysts say could lead to further weakness if breached. Read more

The new ABL season was due to start this week. However, it was announced last month that it would be canceled for a second year in a row due to COVID-19 restrictions in Australia.

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Reporting by Christian Radnedge; Editing by Shrivathsa Sridhar

Our Standards: The Thomson Reuters Trust Principles.

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