While institutions are slowly starting to introduce fractions of their portfolios into crypto, an Australian baseball club is well ahead of the game. The Perth Heat, the most successful club in the league, is embracing Bitcoin as its primary monetary unit. That includes changing your treasury from dollars to Bitcoin and using it to pay staff.
Perth Heat swallows the orange pill
The club revealed its plans for Bitcoin adoption in a statement to Bitcoin Magazine earlier today. Apparently the Heat will fully utilize the Lightning network to pay their players / staff, and will even accept payments.
“In partnership with OpenNode, Perth Heat is setting Bitcoin as the new standard for payments and payments,” according to the statement.
OpenNode is a Bitcoin payment service provider that enables instant conversion of BTC to traditional currencies. Meanwhile, the Lightning Network is a layer 2 Bitcoin scaling solution that allows you to process almost unlimited transactions per second. This is what gives El Salvador the performance to process Bitcoin payments across the country.
Like El Salvador, the team envisions Bitcoin as the future of money and is embracing the technology in advance. Patrick O’Sullivan, labeled “Director of Bitcoin” for the Heat, said that this is not simply a temporary inflation hedge:
“This is not a one-time purchase to protect against future uncertainties or inflationary pressures. The Perth Heat is embracing the reality that the future of corporate money and treasuries will live on the Bitcoin blockchain.
O’Sullivan added that the team is operating with a ‘Bitcoin Standard’ and that it will transition its balance from dollars to Bitcoin. Echoing Bitcoiner’s rhetoric, he said the team’s actions are to “secure your digital property rights” and follow “sound money principles.”
A radical movement
Numerous wealthy individuals and companies have been accumulating little exposure to Bitcoin over the past year. Paul Tudor Jones, a billionaire hedge fund manager, has confirmed that he has single-digit asset exposure. Meanwhile, Shark Tank’s Kevin O’Leary has up to 10% of his portfolio in crypto.
However, most cannot claim that they are making a financial commitment to Bitcoin like the Heat’s. Only Michael Saylor’s Microstrategy has made a comparable move, he now owns over $ 7 billion worth of Bitcoin on his balance sheet.
If you want you can make a donation for the work we do, we will greatly appreciate it.
Wallet addresses:
– BTC: 14xsuQRtT3Abek4zgDWZxJXs9VRdwxyPUS
– USDT: TQmV9FyrcpeaZMro3M1yeEHnNjv7xKZDNe
– BNB: 0x2fdb9034507b6d505d351a6f59d877040d0edb0f
– DOGE: D5SZesmFQGYVkE5trYYLF8hNPBgXgYcmrx
You can also follow us on our social networks to keep up with the latest posts on the web:
– Telegram
Disclaimer: At Cryptoshitcompra.com we are not responsible for any investment of any visitor, we simply give information about Tokens, NFT games and cryptocurrencies, we do not recommend investments
