Bitcoin Featured in the Winter Olympics As Crypto Awareness Grows
It’s undoubtable that the 2018 Winter Olympic Games will be a centrepiece of conversation over the next two weeks, as there is a team that the whole cryptocurrency community can support in South Korea.
Similar to how Cool Runnings was credited for making Jamacia’s bobsled team famous, the next Winter Olympics will see the USA luge team become an icon for Bitcoin, making it a first for the cryptocurrency to be featured in the sport.
In order to drag Bitcoin into the mainstream, the USA luge foundation has setup a sponsor page where backers can support the team through bitcoin donations. The page was started in 2017. And while they might not wear sponsored clothing like in the Olympics, the team has stated that it will gladly support the cryptocurrency in its upcoming competitions, depending on the amount of Bitcoin the team raises.
This makes the USA Luge Foundation the first USA Olympic group to setup its own Bitcoin wallet and to accept donations.
A US luge doubles silver medallist and current marketing director of USA luge Gordy sheer stated that the bitcoin endorsement is a natural fit.
“It’s common to hear a lot of jokes about lugers having a screw loose, and people still don’t understand why we do it. But luge is something that’s in your blood and transforms how you see the world.
The people in the Bitcoin industry exactly what this is like, and it’s something that unfortunately the world doesn’t see yet. Despite the risks of Bitcoin, we definitely see it the upsides and it’s a risk that we’re willing to take.”
The very first donor to the USA luge fund was a former luge Olympian and Wall St Investor named Ty Danco. Danco saw the fund as being a perfect investment vehicle for the next two Winter Olympics moving forward.
“It’s such a good fit for the team. The sport of luging is not thinking just about short-term results, but also the future. The sport intends to change from being an underfunded venture to something able to support a full roster of members on the World Cup level, while also developing grassroots programs for athletes.
Bitcoin is still in its early stages of investment, which means that USA luge deserves props for being forward and at the forefront of the sport.”
Heroes Of Bitcoin
As part of the promotional deal, the Luge team has promised to include Bitcoin logos and decals in its kit and other gear in future, depending on how much funding they receive from their fundraising initiatives.
The promotion levels for the team are highlighted below:
- 5 BTC – The Bitcoin logo will be displayed on the teams hats and merchandise hats.
- 10 BTC – The Bitcoin logo will get sewn into some of the team’s clothing for the 2018 season.
- 25 BTC – Everything above, plus the BTC logo for sleds over the next 2 Olympic Games.
- 50 BTC – Everything above, plus the BTC logo on the sled for the next 4 Olympic Games.
- 100 BTC – Everything above plus the BTC logo on the team skin suits for the next 4 years.
Additionally, the team also promised to “Kidnap Satoshi, and get him on a sled,” if the team raised 21 million BTC, which is the maximum amount of coins that can be mined.