Oakland A’s Say They Plan to HODL Bitcoin, Will Use Gains To Sign Free Agents
Major League Baseball team Oakland Athletics says it’s looking to hold on to any Bitcoin it acquires from selling season suite tickets.
In an interview on Bloomberg Technology, Oakland A’s president Dave Kaval says they decided to accept Bitcoin for suite tickets because of a demand from fans.
“We have heard from our fans that they are interested in paying with crypto, and we have heard it for six or eight months, so we said, ‘Hey, let’s see and take one of our products, our suite, put it on sale for one Bitcoin and see if we get any takers.’”
He says the plan is to hold the BTC and possibly use the gains to acquire big-name players.
“We will hold it. We are believers in it, and hopefully, it continues to go up and maybe we can sign some big free agents with some of the proceeds.”
Kaval also reveals the team is taking a dive into the nascent space of non-fungible tokens (NFTs), exploring using them to offer Athletics-themed merchandise.
“We like blockchain in general, and so the non-fungible tokens are something that we are taking a look at, especially with our intellectual property, our players, and plays, being able to use that as a giveaway. There are some things like that that we are looking to break some new ground in baseball and in sports, and that’s really been a great area for us to try new things in Oakland.”
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Author: Daily Hodl Staff