A prominent Canadian Basketball League revealed that players across seven teams would be paid in Bitcoin [BTC].
The drop in the price of Bitcoin did not prevent industries from all around the globe from expressing interest in it. As the price of BTC plummets to $35K several have been exhibiting fear. However, investors across several industries did not scare too easily. Just after a prominent NASCAR driver announced that he would be receiving his salary in Bitcoin as well as Litecoin, the Canadian Elite Basketball League suggested that it would do the same for almost all its players.
Crypto and sports have had a long history. An array of sportsmen and women have exerted interest in crypto.
Canadian Basketball League embraces crypto
According to a recent announcement, the Canadian Elite Basketball League [CEBL] declared that it would pay players from seven teams a part of their salary in Bitcoin from next week. CEBL had reportedly partnered with Bitbuy a cryptocurrency exchange in Toronto, to carry this out while the basketball league is all set to kick start from 24 June 2021.
Mike Morreale, the Commissioner and CEO of the CEBL commented on its latest move and said,
“Innovation and delivering a new basketball experience have been a driving force behind our creation of one of the world’s most widely recognized pro basketball leagues. [..] Our partnership with Bitbuy speaks to our commitment to players, and also to our forward-thinking approach to how we go about our business.”
Teams including the Edmonton Stingers, Fraser Valley Bandits, Guelph Nighthawks, Hamilton Honey Badgers, Ottawa Blackjacks, Niagara River Lions, as well as Saskatchewan Rattlers will be part of the league and about 70 players would be paid in Bitcoin.
Additionally, Kimbal Mackenzie, a player of the Guelph Nighthawks was reportedly one of the first members to say agree to this offer. He noted that he was “incredibly excited” to be paid in Bitcoin. Elaborating on the same he added,
“I believe cryptocurrency is the future. The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer.”