Australian baseball club Perth Heat has turned to OpenNode to implement a corporate bitcoin payment system.
Australian baseball team Perth Heat has signed a contract with cryptocurrency payment service OpenNode. Perth Heat can now accept payments for goods sold and sponsorship in bitcoins through the Lightning Network,
charge salaries to staff and players in cryptocurrency. The team plans to form a Hodl Bitcoin fund on the club’s balance sheet. Perth Heat CEO Patrick O’Sullivan said the club’s adoption of Bitcoin for salary payments could serve as an example for other sports organizations.
“We know the community is looking at the Perth Heat experience as a model for success, and we hope the adoption of Bitcoin will inspire others to embrace a cryptocurrency that will drive sports teams.”
According to him, players and club employees have already fully realized the benefits that payment in bitcoins provides them. The head of Perth Heat expressed confidence that the club will inherit the mindset of the Bitcoin community and this will help to achieve new results in sports during the era of cryptocurrencies. Perth Heat, following the new policy, has converted the club’s fiat money into bitcoin to protect it from inflation, O’Sullivan said, and will continue to reinvest the available capital in bitcoin, according to O’Sullivan.
He believes the world has begun to grasp the power of cryptocurrencies and the club is determined to become an insider among baseball clubs. O’Sullivan said this is not a one-time purchase to hedge inflation risks. According to him, The Perth Heat understands that the future of money and corporate capital belongs to bitcoin.
In the sports industry, more and more clubs are willing to pay salaries and accept payments in cryptocurrency. This trend has been observed for more than one year.
In April, the Sacramento Kings, an NBA affiliate, announced that it would pay players and staff in bitcoin.
In 2019, the American Miami Dolphins soccer team teamed up with the Litecoin Foundation to accept cryptocurrency payments. Back in 2014, Santa Cruz Warriors – a division of NBA’s Golden State Warriors team – signed an agreement with electronic payments operator PayStand to process Bitcoin payments for online ticket purchases.
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