MLB team will HODL Bitcoin received from suite sales, says president

CoinTelegraph

Dave Kaval, president of Major League Baseball’s Oakland Athletics, says the ball club will be HODLing any Bitcoin that fans pay for luxury seats at the team ballpark in the San Francisco Bay Area. 

In an interview with Bloomberg on Friday, Kaval said no baseball fans had yet taken advantage of the opportunity to buy a full season, six-person suite for the home season for 1 Bitcoin (BTC) since the deal was first announced on March 15. Though the A’s club president said he was still hopeful “two or three” people will buy tickets for the ten suites available, he also clarified that any crypto received from purchases wouldn’t be converted into fiat right away.

How To Get Free Crypto  

“We’re gonna hold it,” said Kaval. “We’re believers in [Bitcoin] and hopefully it continues to go up and maybe we can find some big free agents with some of the proceeds.”

The BTC price dipped to $51,000 since the initial sales announcement, meaning crypto users who purchased the suite at just the right time could have saved more than $13,000 compared to the regular full season fiat price of $64,800. The price of the crypto asset has since returned to more than $57,000.

Kaval said part of the reason for the change to selling the tickets in crypto was the baseball club offering “something unique and different.” Though he said the A’s would not be accepting other tokens like Ether (ETH) or Dogecoin (DOGE) this week, there is the possibility of doing so in the future.

“We’re focused on just Bitcoin for now, but I think if it catches on, and we get interest, we are open.”

Bitcoin sales for the suites will still be accepted before April 1, when the Oakland A’s first game is scheduled against the Houston Astros. Though the status of the game may still be subject to change depending on COVID-19 cases in the state, at the time of publication, roughly 9,400 baseball fans are expected to be allowed at the A’s RingCentral Coliseum on Thursday — less than 20% of the 63,132 people when the venue is at full capacity.

Coinbase Banner  

Many Major League Baseball players have also become involved in the non-fungible token market. Last month, former MLB player-turned artist Micah Johnson sold $1 million worth of tokenized art in just one minute on Nifty Gateway.

Go to Source
Author: Turner Wright


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.