April 17, 2021

MLB team will HODL Bitcoin received from suite sales, says president

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Dave Kaval, president of Major League Baseball’s Oakland Athletics, says the ball club will be HODLing any Bitcoin that fans pay for luxury seats at the team ballpark in the San Francisco Bay Area. 

In an interview with Bloomberg on Friday, Kaval said no baseball fans had yet taken advantage of the opportunity to buy a full season, six-person suite for the home season for 1 Bitcoin (BTC) since the deal was first announced on March 15. Though the A’s club president said he was still hopeful “two or three” people will buy tickets for the ten suites available, he also clarified that any crypto received from purchases wouldn’t be converted into fiat right away.

“We’re gonna hold it,” said Kaval. “We’re believers in [Bitcoin] and hopefully it continues to go up and maybe we can find some big free agents with some of the proceeds.”

The BTC price dipped to $51,000 since the initial sales announcement, meaning crypto users who purchased the suite at just the right time could have saved more than $13,000 compared to the regular full season fiat price of $64,800. The price of the crypto asset has since returned to more than $57,000.

Kaval said part of the reason forTitle: MLB team will HODL Bitcoin received from suite sales, says president
Sourced From: cointelegraph.com/news/mlb-team-will-hodl-bitcoin-received-from-suite-sales-says-president
Published Date: Mon, 29 Mar 2021 22:44:53 +0100

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