- Netherlands has the first ever football team to pay its players’ and staffs’ salaries in cryptocurrency
- AZ Alkmaar endorses the use of crypto in the football field, expanding the domain of crypto
- Sports industry becomes crypto’s new destination to expand its roots
Cryptocurrency has spread its roots across industries since its origin. Almost all sectors of the economies have incorporated crypto assets as a mode of transactions and payments. Even industries like the entertainment and sports industry have adopted the use of digital payments. The football teams of various countries have started to show interest in payments done via cryptocurrency. Netherlands jumped in the crypto wagon and recently allowed holdings and payments of salary to its football players. As the first team starting the trend in the Netherlands, it might have started a fire of crypto payments used by football players.
Netherlands AZ Alkmaar football team will pay players in Bitcoin
AZ Alkmaar emerged as the first professional football team in the Netherlands to compensate and pay its players and staff members salaries in Bitcoin (BTC). The club posted an official notice on the website on 1st July, 2021. The Eredivisie side revealed crypto broker Bitcoin Meester as its formal and premiere crypto partner before the end of mid year 2024. Alkmaar came third in the 2021 Dutch football season. The sponsorship deal will only be finalized based on the announcement and will completely be in Bitcoin. The club is yet to confirm its intentions to keep the BTC funds on its balance sheet.
The football team has reportedly started to pay its players in Bitcoin. With more teams using Bitcoin for paying professional athletes, the club has joined the growing list of sports franchises that are adopting it rapidly. The Bitcoin and crypto request is high for Michael Koster, who is Alkmaar’s commercial director, who is also highly influenced by the club’s decision to choose Bitcoin for salary payments. According to Koster, the cryptocurrency market is booming, with an exponential growth of users in recent years. Entities that do not use crypto, like football and other sports teams, need the counsel of knowledgeable and established market participators like Bitcoin Meester. Notably, the leading crypto broker is amongst the few licensed crypto firms established by the Dutch central bank.
Football is not the only sport that holds pro Bitcoin sentiments
Netherlands’ authorities and regulators also appear to hold cryptocurrency regulations as a primary course of discussion, with a government official contending to ban cryptocurrency entirely in the country. Firms that operate around cryptocurrency have increased their entrance into various sponsorship deals with sports teams to improve brand recognition and grow their business operations globally.
Formula 1 has also announced an international partnership with Crypto.com based on previous market reports. Even the National Basketball Association and Major League Baseball players and members are publicly embracing crypto and Bitcoin. American sports franchises and star athletes are on the same course. The seventh time Super Bowl champion, Tom Brady, made a celebrity crypto promotion deal with FTX crypto derivatives exchange.