CEBL, the Canadian Men’s Basketball League, offers professional basketball players the option to receive a portion of their salary in cryptocurrency. The new payment option has been enabled through a partnership with the Canadian cryptocurrency exchange Bitbuy.
Bitcoin to convert Canadian dollar salary to Bitcoin
Canadian Elite Basketball League (cable) Announced a contract with BitBuy on June 24, a few days before the start of the third season. Founded four years ago, the league was launched in 2019 with six teams, all owned and managed by the Canadian Basketball Venture Group. Cryptocurrency partnerships are now said to be the first for a professional sports league in North America. Mike Moreale, CEBL Commissioner and CEO, commented:
The partnership with Bitbuy speaks to our commitment to our players and our positive approach to how we do business. We thank Bitbuy for their investment in supporting the further growth of Canada’s official national professional basketball league.
With the help of Bitbuy, basketball players will be able to opt in to receive a portion of their salary in Bitcoin (BTC). The trading platform converts Canadian dollar payments into cryptocurrencies and deposits digital coins into the player’s personal crypto wallet. With over 300,000 users in Canada, the exchange will also be the official sponsor of the league as part of its contract with CEBL.
Basketball player demands Bitcoin payroll option
According to Charlie Aikenhead, Vice President of Marketing at Bitbuy, this partnership is revolutionizing the way athletes think about rewards. “We are pleased to be able to help CEBL players protect their long-term wealth by receiving payments in Bitcoin,” he added, adding that cryptocurrency companies are proud to support their Canadian sport. I emphasized that I am thinking.
The cooperation between Bitbuy and CEBL is in response to basketball players’ interest in paying cryptocurrencies to league management. They mentioned the case of NFL’s Russell Okung, who became the first professional athlete to be paid in Bitcoin last year in North America. In December, Carolina Panthers’ aggressive lineman earned half of his $ 13 million salary BTC, As reported by Bitcoin.com News.
Kimbal Mackenzie, a guard at Guelf Nighthawks, one of the first CEBL players to be rewarded in cryptocurrency, was quoted in a press release as saying:
The opportunity to be paid in Bitcoin is incredibly exciting to me. I believe cryptocurrencies are the future.
Mackenzie considers this an investment that will be highly valued over the next few decades and claims that his decision was easy. In his view, cryptocurrency payroll options also emphasize that CEBL is one of the top professional sports leagues in the world.
Cryptocurrency prices have risen sharply over the past year as the global epidemic has sought to protect funds in uncertain economic conditions, both for retail investors and businesses. BTCCryptography, which has the largest market capitalization, reached a record high of over $ 63,000 in April.Since then, it has fallen below $ 40,000 per coin and is now transaction Saturday is between $ 35,000 and $ 36,000.
Do you expect other sports leagues to offer their players the option of being paid in cryptocurrencies? Let us know in the comments section below.
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