“We are Believers in Bitcoin,” says Oakland A’s President on Accepting BTC & HODLing it
The MLB team is currently focused on Bitcoin only, but open to other cryptos like Ether and DOGE as well, “if it catches on.”
American professional baseball team Oakland Athletics is now accepting Bitcoin as payment for the tickets.
Talking about this development, Dave Kaval, president of the Oakland A's, revealed that it has been on the back of the fans’ demand.
“We had heard from our fans that they are interested in paying with crypto, and we have heard it for six or eight months.”
And they decided to put one of their products or suits on sale for Bitcoin, but Kaval said so far, “we have not had a transaction yet.” However, they have had more than 100 inbound inquiries.
“We have until next Thursday to get people on board. I am hopeful we get two or three. There are 10 suites we set aside for this. Hopefully, we get two or three by opening days. We are right at that moment where hopefully it comes through.”
What’s more interesting is that Oakland A's plans to hold any BTC that they receive; as Kaval said, “we are believers in it.”
“Hopefully continues to go up. Maybe we can sign some big free agents with some of the proceeds. Who knows.”
Trading around $54,800, BTC/USD is up 86.5% YTD and has rallied 13.5x from March lows.
So far, the focus is on accepting only Bitcoin BTC -0.73% Bitcoin / USD BTCUSD $ 47,695.39
-$348.18-0.73% Volume 32.4 b Change -$348.18 Open $47,695.39 Circulating 18.82 m Market Cap 897.52 b 2 h $1.5 Trillion Asset Manager Franklin Templeton Eyes Crypto With Latest Filing 3 h AMC Entertainment to Accept Bitcoin, Ether, and other Cryptocurrencies as Payment 4 h Skybridge Capital Announces Intentions For Algorand (ALGO) Crypto ETF and no other crypto like Ethereum ETH 1.47% Ethereum / USD ETHUSD $ 3,583.66
$52.681.47% Volume 20.09 b Change $52.68 Open $3,583.66 Circulating 117.55 m Market Cap 421.26 b 28 min Crypto’s Self-Policing Unveils Insider Trading at $1.5 Bln Valued NFT Marketplace, OpenSea 2 h $1.5 Trillion Asset Manager Franklin Templeton Eyes Crypto With Latest Filing 3 h AMC Entertainment to Accept Bitcoin, Ether, and other Cryptocurrencies as Payment and Dogecoin DOGE -2.13% Dogecoin / USD DOGEUSD $ 0.24
-$0.01-2.13% Volume 1.09 b Change -$0.01 Open $0.24 Circulating 131.31 b Market Cap 31.61 b 6 h Coinbase is Coming for the Sizable and Lucrative Futures and Derivatives Market in the US 1 w Robinhood Trading App Rolls Out “Dollar Cost Averaging” for Crypto Investments 1 w Crypto Market Dips and Over 165k Traders Get Liquidated for More Than $890 Million . “But if it catches on, we are open,” he added.
For the processing, they are using BitPay, a bitcoin payment service provider, which also supports Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), and four USD-pegged stablecoins viz. GUSD, USDC, PAX, and BUSD.
As BitPay supports other cryptos too, Oakland A's is open to accepting altcoins as well.
Besides Bitcoin, Oakland A's also like blockchain and are looking into non-fungible tokens (NFTs). They are also ready to start housing fans going into the full season, starting with a 20% capacity.
“It will be great to have the energy and excitement. Hopefully, we can build on that and end up with a full stadium by halfway or partially through the year.”