Leading American baseball team Oakland Athletics has outlined its plans to venture into Bitcoin. The team’s president, Dave Kaval, was speaking about accepting payments in Bitcoin during an interview on the Bloomberg Technology talk show, hosted by Emily Chang.
A couple of weeks ago, the team issued a statement that it would start putting on sale full-season suites for the upcoming 2021 regular season. Each suite would go for one (1) Bitcoin. The sales commenced on March 14th and will continue until April 1st. The opening day would be April 1st.
According to Dave Kaval, Oakland Athletics is looking forward to accepting payments in crypto as opposed to the usual US dollar. Due to the volatility of Bitcoin’s price, the price of the said season’s suite would be expected to go up and down depending on the purchase time and date; and the average selling price of each coin. This would add to the excitement since the team’s die-hard fans could save up to thousands of dollars, should Bitcoin’s price come down significantly during the promotion period.
Oakland Athletics Would Hold its BTC
Interestingly, the president declared that they wouldn’t be converting the leading crypto asset into fiat currency, instead they would hold it because they are believers in the asset. In his words,
No, we’re gonna to hold it. We’re gonna hold it… We’re believers in it, and hopefully it continues to go up and maybe we can find some big free agents with some of the proceeds, who knows.
Available information on Oakland Athletics’ website showed that each season’s suite usually sells for $64,800. At the time of writing, Bitcoin is trading around $55,000. That means the fans could save more than $8,500 if they pay through Bitcoin.
Compared to Tesla, Oakland’s Athletics are taking a different approach of setting the product price in BTC, rather than the USD. However, few fans have expressed their interest in buying the season’s suite as at the time of going to press.