For the first time, an NBA team will pay salaries to players and coaches in Bitcoin

Sacramento Kings is gearing up to be the first professional sports club to offer Bitcoin salaries to all of its players and employees. This was announced on Monday by the chairman of the club Vivek Ranadive on the air of the Clubhouse.

The official announcement is expected to be made this week.

“Over the next few days, I will announce that I will propose to everyone in the Sacramento Kings organization. They will be able to receive their salary in bitcoin at will, including the players, ”Ranadive said.

The discussion took place in a room called «Satoshi’s Round Table». Ranadive was invited to join the discussion by venture capitalist and bitcoin investor Tim Draper.

The Sacramento Kings are one of the top NBA teams , well known for their commitment to cryptocurrency. In a recent blog post, the NBA team recalled that they started accepting bitcoin as a means of payment back in 2014 and launched a token in 2019 to reward fans.

Ranadive has said in the past that he views the club’s fan base as a social network to which he can spread technological advances. He also noted that Bitcoin will allow fans of the club to leave their wallets at home, and he himself will not be in an uncomfortable position when his own children ask him why Sacramento Kings did not accept Bitcoin.

How exactly crypto payments will be carried out in favor of the club’s employees is unclear. Since 2014, Sacramento Kings has been cooperating with the BitPay processing service.

In 2021, Bitcoin payments to athletes have become especially popular. Carolina Panthers forward Russell Okung said he received half of his $ 13 million salary in BTC in December 2020.

Later, the administration of the club stated that the funds for Okung were not paid in bitcoins, and he himself converted the money received into cryptocurrency. However, we can indeed see athletes pushing to join the crypto market.

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