Sacramento Kings Will Adopt Bitcoin As Salary Option For Players

As Bitcoin gradually garners more public recognition, the number of institutions utilizing its value increases. Vivek Ranadivé, the Chief Executive Officer and Governor of NBA team Sacramento Kings, in a Clubhouse session, revealed both employees and players in his organization can now choose to receive any percentage of their salary in bitcoin.

According to Neil Jacobs, who is known as a regular moderator for Café Bitcoin on Clubhouse, the CEO said, “I’m going to announce in the next few days that I’m going to offer everyone in the Kings organization, they can get paid as much of their salary in bitcoin as they want, including the players.”

Jacobs, who was in attendance during Ranadivé’s announcement mentioned that he was present in the same room as the Sacramento Kings CEO. According to his report, the room was hosted by a club called the “Satoshi Roundtable” and Bruce Fenton, a popular supporter of Bitcoin who had started investing in the cryptocurrency since 2012 and was called “Draper and Friends.”

During the Clubhouse session, Tim Draper, a popular venture capitalist in the crypto industry who purchased bitcoin from the U.S. Marshall’s auction in 2014, called on Ranadivé to join him on the stage, where he made the announcement.

The latest development is not the first step the U.S.-based professional basketball team has taken into the crypto world. The NBA team has previously revealed its journey so far into the crypto space.

This journey started in 2014 where it became the first professional sports team to offer a variety of crypto-related services to its fans. The team added BTC payment option for fans who want to purchase some of its merchandise like the Kings jerseys, tickets, different Kings gear, and they even set up a Bitcoin ATM at its arena.

Apart from its bitcoin payment option, the team also set up a Bitcoin mining center for educational purposes.

Moving forward, the Sacramento Kings partnered with Block Party, a blockchain-based rewards firm, to enable fans to earn blockchain tokens when they buy the team’s products and services. With its latest step, adding Bitcoin as a salary option for players, the NBA team seems to be pressing forward into the crypto space.