MLB’s Oakland Athletics Plans To Hodl Bitcoin Earned From Suite Sales

Major League Baseball (MLB)’s Oakland Athletics prefers to hold any Bitcoin it earns when fans book for luxury seats to watch games at the club’s bay in San Francisco. This disclosure was made by the team’s president, Dave Kaval, during last week’s interview with a Bloomberg reporter. However, Kaval noted that no team supporter had yet seized the opportunity to purchase an entire season, a six-person suite to be apportioned to the home season buyer. The offer, which is 1 BTC, was first made public on March 15.

Oakland wants to use the proceeds to purchase agents

While Kaval has expressed optimism that some fans will soon accept the offer for ten different suites, he said that the team would hold any Bitcoin receipt and wouldn’t change it to a fiat currency. He affirmed that the club believed in Bitcoin and its prospect of a future rise in value. He added that he would prefer to use the returns earned from the rise in Bitcoin price to buy “big free agents” someday.

Bitcoin has fallen from its $61,000 record high to $51,000 since the team announced the luxury suites ticket offer. This indicates that any fan that took advantage of the offer at the time of the announcement would have saved up to $13,000 instead of paying for the entire regular season with a fiat currency of $64,800. But at the moment, Bitcoin is trading above $57,000.

According to the president, the club’s reason for selling Bitcoin was to present a unique and new offer to fans. He, however, clarified that only Bitcoin would be accepted, while Ether, Doge, and other tokens would be added in the near future. “Now, our focus is on BTC; but in the future, we are open to other tokens,” he said.

The 1 BTC offer for the suites will expire before April 1, the date the Oakland A’s would play its first match against the Houston Astros. While COVID-19 reports in the state will largely determine if there will be a change of date, 9,500–20% out of the total 63032 seats will be made available for baseball spectators at the A’s RingCentral coliseum on April 1.

Major League Baseball players now selling NFTs

Some players of Major League Baseball have joined the NFT marketplace. In February, Micah Johnson, a former MLB player who is now an artist, earned $1 million from the sale of artwork in just a minute on the NFT marketplace, Nifty Gateway. At the end of the 28-hour action, the sum of $2 million was generated. In his interview with journalists, Johnson said he was focused on his plan to prove that NFT can produce extraordinary experiences and satisfaction.

Johnson also sold an NFT he tagged as AKU, and sold the physical AKU sculpture for $305,000. Johnson said the AKU, a black astronaut, was inspired from the question, “Can an astronaut be black?” which his sister asked about her son. Earlier, Taijuan Walker of MLB had also sold his NFT for $4275. This made the record of the first NFT to be sold in basketball.

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