NBA Bitcoin Player Salary: Sacramento Kings Announce Major Cryptocurrency Plan

NBA Bitcoin Player Salary: Sacramento Kings Announce Major Cryptocurrency Plan
The Sacramento Kings team owner announced on Clubhouse that they would offer a Bitcoin currency salary options for their players and staff. Photo : Ezra Shaw/Getty Images

Vivek Ranadive, the Chairman, CEO and Governor of the Sacramento Kings, announced on Clubhouse that they would offer a Bitcoin currency salary options for their players, staff and team.

If it pushes through, it will make the Kings the first major sports franchise to provide a Bitcoin currency option for their members.

NBA Bitcoin Salary for Kings

According to Forbes, the announcement for the Bitcoin salary of the Kings happened during a Clubhouse room called the "Satoshi Roundtable" with Tim Draper, a venture capitalist well-known in the Bitcoin industry. Draper then got in touch with the Kings CEO to join the call and have a chat with him. The room was hosted by Bruce Fenton, a Bitcoin advocate and investor. 

During the Clubhouse talk, Ranadive stated that he will offer the Kings franchise Bitcoin salaries and "they can get as much as they want, including the players." According to Ranadive, the Bitcoin salary offer strengthens the NBA team's longstanding claim as the first professional league to have a Bitcoin salary option.

As the Clubhouse room chat ended, Neil Jacobs--who is a well-known regular moderator for Cafe Bitcoin--broke the news on his Twitter page and was soon reported by CoinDesk.

The NBA franchise will most likely transfer Bitcoin payments to their staff, team, and players with BitPay, as previously, the Kings partnered with it since 2014. However, this is still unconfirmed for now. At that time, Ranadive stated on ESPN that when he sold the NBA on keeping the team in Sacramento, his pitch included using the sports outlet as a social network to push the technology boundaries.

Also Read: Bitcoin Mining on Game Boy: YouTuber Makes It Possible-Requirements and How to Do It

More Organizations and Franchises Using Bitcoin as Payment

With that said, more and more organizations and companies are leaning towards Bitcoin payments and salaries. Elon Musk's announcement earlier this year that Tesla would accept Bitcoin payments seems to be the catalyst for using virtual currency payment methods in the US. The most popular companies that receive BitCoin are Wikipedia, Microsoft, and AT&T, with transactions using BitPay.

Sports organizations like the Miami Dolphins and the Dallas Mavericks are also leaning into the Bitcoin payment method. The Dolphins use Bitcoin as payment when purchasing home-game tickets and benefit the team's 50/50 raffle. Half of the proceeds are donated to the Miami Dolphins Foundation and its charitable causes. On the other hand, the Dallas Mavericks also accepts Bitcoin payments in purchasing game tickets and merchandise using BitPay.

In Venezuela, popular Food franchises like Burger King and Pizza Hut also accept Bitcoin as payment. Burger King outlets in the country announced their partnership with Cryptobuyer that accepts other cryptocurrencies as payments such as Bitcoin, Dash, Litecoin, Ethereum and Tether. On the other hand, Pizza Hut accepts any orders that can be paid with cryptocurrency.

A Burger King branch in Germany also accepts Bitcoin as payment by ordering delivery online through the Lieferservice delivery service that works throughout all the country's restaurants, as reported by 99Bitcoins.

Related Article: Tesla Cars for Sale: How to Buy Using Bitcoin

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