Sacramento Kings players, employees can be paid in Bitcoin: Owner

  • All Sacramento Kings employees can be paid with Bitcoin, the NBA team owner said on Monday.
  • The team has been accepting Bitcoin for goods and ticket purchases since 2014.
  • “You can get as much of your Bitcoin salary as you want, including players,” Vivek Ranadivé said, according to reports.
  • You can find more articles on Insider’s business page.

All employees of the NBA team, the Sacramento Kings, including the players, will soon be able to receive their salary in Bitcoin, announced club owner Vivek Ranadivé in the clubhouse on Monday evening.

“I will be announcing in the next few days that I will offer all members of the Kings organization that they can get as much of their salary in Bitcoin as they want, including the players,” Ranadivé told a tweet from Neil Jacobs, who regularly moderates Bitcoin discussions on the platform.

Jason Brett confirmed the announcement in an article for Forbes.

The Kings did not immediately respond to Insiders’ request for the comment.

The team has been accepting Bitcoin for goods and tickets since 2014. At the time, it was the first professional sports team to take this step.

In the past few months, other large companies have started accepting cryptocurrency as a means of payment. Elon Musk, CEO of Tesla, announced in March that Tesla would accept Bitcoin for car purchases. A week later, the crypto startup Bakkt launched an app that customers at Starbucks, Choice Hotels and Best Buy can use to pay with Bitcoin.

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Other companies have launched one-off bitcoin marketing campaigns. Fast food chain Chipotle issued Bitcoin worth $ 100,000 on Thursday as part of a “Burritos or Bitcoin” game. This made it the first US restaurant to give away Bitcoin.

Bitcoin rose in 2021, hitting an all-time high of more than $ 60,000 in March.

But the currency is very volatile, and the founder of the crypto exchange, Bobby Lee, told Insider’s Harry Robertson that investors should be better aware of the history of the asset’s bubbles and dramatic crashes in the price.

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