NBA: Sacramento Kings Players can Receive Their Salary in Bitcoin
The Bitcoin adoption wave is unstoppable. Vivek Ranadivé—the owner of Sacramento Kings, has said its players and staff can choose to receive their salary in Bitcoin. Through an update on ClubHouse, Vivek's announcement further strengthens the team's claim of being the most open to crypto in professional sports history. As early as 2014, the NBA team began accepting BTC as payment for snacks and tickets.
Over and above everything, Bitcoin is a medium of exchange. It has only metamorphosed to a store-of-value due to its fixed supply of 21 million and rapid price gains in the last few years as the coin finds adoption by investors and leading professional sports teams in the U.S. After NFL's Russel Okung announcement, the NFT wave has hit soccer and basketball teams worldwide. Sacramento Kings is the latest to accept Bitcoin, endorsing the coin as a medium of exchange, comparable to the greenback.
Impact on the Bitcoin Price:
Bullish. The path of Bitcoin's dominance and replacement of fiat currencies in the long-term begins with adoption. Sacramento Kings announcing support for the coin, allowing its players and staff members to accept BTC payment is enormous for the cryptocurrency. The BTC/USD price remains in consolidation below $60k.
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