Australian baseball club Perth Heat adopt Bitcoin to pay athletes
Perth Heat will utilize the Bitcoin Lightning Network to make payments to professional baseball players and staff.
Australian baseball club Perth Heat has reported a partnership with Bitcoin payment processor Open Node to accept and make payments in Bitcoin(BTC). The partnership allows Perth Heat to pay professional players and staff in Bitcoin.
According to the announcement, the professional sports club will send and receive payments in Bitcoin over the Lightning Network. Moreover, the partnership with OpenNode allows the Perth Heat Organization to accept Bitcoin payments for sponsorships, merchandise, and other revenue streams.
Taking things a step further, Perth Heat has additionally rebranded itself to be called "the bitcoin baseball team."
The club has also listed Bitcoin-branded merchandise on its official website. Showing a long-term commitment to mainstream Bitcoin adoption, the declaration expressed:
“As part of this sporting world exclusive, Perth Heat will hold Bitcoin on the club’s balance sheet.”
Steven Nelkovski, the CEO of Perth Heat believes that embracing the underlying values of the Bitcoin protocol "will motivate others to embrace a monetary system that demands value creation to thrive." According to the club's "chief bitcoin officer," Patrick O'Sullivan:
“The club has already established an initial position in BTC to help secure its digital property rights on the world's most secure monetary network and will continue to reinvest available capital into Bitcoin. The Perth Heat are embracing the reality that the future of money and corporate treasuries will live on the Bitcoin blockchain.”
The Land Down under has ramped up efforts this year to allow regulated crypto adoption. On Oct. 20, an Australian Senate council called for a complete overhaul of crypto legislation and licensing.
Australia Securities and Investments Commission additionally released a guideline that greenlights Bitcoin and Ethereum based exchange-traded products.
A recent survey conducted by Crypto.com also found that Australian residents are similarly keen to explore crypto investments. Out of the polled 2,020 Australians aged between 18 and 59, 26% responded that they would consider giving some away for Christmas or buying crypto-related gifts.