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November 29, 2022
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Canadian basketball players will be able to receive salaries in Bitcoin –

The professional basketball league in Canada will offer players wages in Bitcoin. It is about players of as many as seven teams. The program starts next week.

Salaries in Bitcoin

According to last announcement, the Canadian elite basketball league (CEBL) has partnered with the Toronto-based cryptocurrency exchange Bitbuy. Objective? Convert some of the current earnings of basketball players to Bitcoin (BTC). The league assured that it would organize the entire process: from converting Canadian dollars to BTC, to providing funds for personal wallets for players’ cryptocurrencies.

Over 70 players from Edmonton Stingers, Fraser Valley Bandits, Guelph Nighthawks, Hamilton Honey Badgers, Ottawa Blackjacks, Niagara River Lions and Saskatchewan Rattlers will be eligible for cryptocurrency payments. Bitbuy will also join CEBL as the official sponsor of the teams.

Nighthawks’ Kimbal Mackenzie said he would be one of the first players to accept the CEBL offer. The 24-year-old athlete recently re-signed with the team for the CEBL 2021 season starting on June 24.

– Being able to get paid in Bitcoin is something I am extremely excited about Mackenzie said. – I believe cryptocurrency is the future. Being able to dedicate part of my salary directly to an investment which I think we will appreciate greatly in the next 10-30 years is great – added.

Bitcoin won’t work?

While many franchises and sports organizations have partnered with cryptocurrency and blockchain companies, quite a few people have also expressed concern about Bitcoin as a medium of exchange given the fluctuating asset prices in this market. Mackenzie added in a separate interview that he will spend half his salary on Bitcoin and says he does not care about any potential volatility.

– [Jeśli Bitcoin spadnie], let it be that way. It was a decision I was ready to make. On the other hand, if it grows, maybe I’ll retire in two years – He said.

Since hitting a record high of $ 64,899 in April, Bitcoin has dropped significantly after Tesla CEO Elon Musk said the company would stop accepting BTC as a form of payment for its vehicles due to environmental concerns. At the time of this publication, the BTC price is $ 35,634.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will find out how you can efficiently create one: LINK.

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