Sacramento Kings will accept Bitcoin -- first pro-sports team to do so
When it comes to sports, I am a born loser. As much as I love my favorite New York teams, they aren't exactly winners -- Mets, Knicks, Jets and Islanders. Following these teams is a quick path to depression. As bad as I am at picking teams to root for, I am probably worse at picking things to invest in.
A good example is Bitcoin -- I thought about buying some bitcoins as an investment a few years back, but convinced myself it was foolish. After all, it was risky and lacked legitimacy. While hindsight is 20/20, had I bought some, I would have made a substantial profit. Not only that, more and more legitimate businesses are accepting the virtual currency as a payment option. Today, the NBA franchise Sacramento Kings announces that it too will soon begin accepting it.
According to the team, "tapping into a new and innovative digital currency community in which bitcoins can be earned and saved by users across the globe, the Kings have begun to accept bitcoins in the Kings Team Store through a simple checkout process, and will offer fans the ability to pay online for team merchandise and tickets by March 1. With this technology provided by BitPay, Kings fans will be able to purchase Kings merchandise and experiences in a faster and more secure way using bitcoin".
"We are maniacally focused on creating the most seamless experience for our fans in all facets. With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets. A major tenet of the NBA 3.0 philosophy is about utilizing technology for the betterment of the fan experience, and this is yet another step in that process", says team owner Vivek Ranadivé.
At the time of this writing, the Kings record for the 2013-2014 season is 14 wins and 23 losses. Skeptics may look at this news as nothing more than a distraction from the losing ways of the team. However, it is important to know that team owner Ranadivé made his fortune in technology, so it is likely not a distraction, but an organic implementation by a tech-nerd that just happens to own an NBA team.
Do you own any bitcoins? Are you excited that more businesses are accepting them? Tell me in the comments.