Canadian Elite Basketball League is offering players BTC as a salary payment

The Canadian Elite Basketball League (CEBL) has announced that players now have the option to get paid in Bitcoin.

The CEBL’s announcement marks the first time a North American professional sports league is abolishing Bitcoin as an option for wage payments. The news comes after the league recently partnered with Bitbuy, a well-known Canadian cryptocurrency platform. By using the platform mentioned, the CEBL will have the opportunity to pay the players part of their salaries in Bitcoin.

The league is small, with their third season starting June 24th, but the fact remains that they are the first to offer this. Players signed to CEBL teams can sign up and receive part of their salary in Bitcoin after being converted into Canadian dollars by Bitbuy.

Charlie Aikenhead, Vice President of Marketing at Bestbuy, expressed the company’s enthusiasm for the project. “We are proud to support Canadian native sports and to partner with the league on this first initiative in the market.” Aikenhead adds that Bitbuy aims to help athletes think about compensation and protect their long-term assets through cryptocurrency.

In the CEBL press release, Commissioner and CEO Mike Morreale added: “Our partnership with Bitbuy speaks for our commitment to players and also our forward-looking approach to how we run our business.” Morreale also claims that his league has some of the best players who have not signed any NBA contracts who have chosen the CEBL because of their player-centric approach

More athletes want to be paid in crypto

According to CEBL, the move was inspired by the players themselves, who requested that league management investigate crypto payments. Players began to express their wishes after Russell Okung was paid for with Bitcoin by the NFL as the first professional player in North America.

Kimbal Mackenzie, a guardian of CEBL’s Guelph Nighthawks and a 2020 Sportsmanship Award winner, stated that he would be one of the first players to choose the Bitcoin program. Mackenzie believes that cryptocurrency is the future and is excited about the start of the new program.

“The ability to put a portion of my salary straight into an investment that I believe will appreciate greatly in value over the next 10 to 30 years is a breeze,” said the former Bucknell cue. Mackenzie goes on to say that prior to the official announcement, he had several conversations with numerous players in the league about cryptocurrencies.

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