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CEBL just became the first pro sports league to accept Bitcoin (BTC) salaries

By:
on Jun 21, 2021
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  • The CEBL recently announced that the players will now start receiving part of their salaries in Bitcoin.
  • The move represents the continuation of the long partnership between crypto and sports industries.
  • The payments will start coming thanks to CEBL’s new team-up with Bitbuy, which will process the payments.

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The sports industry has always been one of the more accepting industries when it comes to digital currencies. So far, there have been many professional athletes to support various cryptos publicly, and even launch their own coins. Multiple brands and clubs have teamed up with various crypto projects and companies, and now, the relationship between sports and crypto seems to be further deepening.

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The latest move indicating this is the CEBL (Canadian Elite Basketball League), which just became the first pro-sports league in the entirety of North America to adopt Bitcoin as a payment method for salaries.

According to what is known. CEBL made this possible through its recent partnership with a local crypto platform, Bitbuy. It appears that the league players will now start receiving a portion of their pay in Bitcoin (BTC/USD).

CEBL also posted an official announcement, in which it claims that Bitbuy will convert CAD salaries into BTC, and then transfer the coins to the players’ private wallets. The latest announcement came right after Carolina Panthers’ Russel Okung received half of his annual pay in Bitcoin. Okung, whose annual pay is $13 million, now has $6.5 million worth of Bitcoin. He is also the first NFL player to start receiving payments in BTC, ever since December 2020.

Professional players recognize opportunity in Bitcoin

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Guelph Nighthawks’ guard, Kimbal Mackenzie, commented on the new development by stating that the opportunity to be paid in Bitcoin is very exciting. Mackenzie openly admitted to believing that cryptocurrency is the future and that this was a well thought-out decision, as the part of the salary will go directly into an investment that will be appreciated greatly over the next 10-30 years.

Mackenzie also noted that CEBL continues to provide its players with modern, forward-thinking opportunities, with the option to be paid in Bitcoin definitely being one of them, which is something that many seem to be quite excited about.

With this new move, the role of Bitcoin and altcoins in the global sports industry continues to evolve and improve, and quite rapidly, at that. The adoption of crypto in the sports industry has been advancing for years now, and while it is still far from being universal, every step counts, and many believe that it will get there eventually.

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