Salaries in Bitcoin for basketball team in Canada – Explica .co

In Canada, a professional basketball league, called the Canadian Elite Basketball League (CEBL), offers the players of its seven teams to receive a portion of their salaries in Bitcoin. In fact, after partnering with Canadian cryptocurrency exchange Bitbuy.

Specifically, more than 70 players on the active roster for the Edmonton Stingers, Fraser Valley Bandits, Guelph Nighthawks, and Hamilton Honey Badgers. Likewise, Ottawa Blackjacks, Niagara River Lions, and Saskatchewan Rattlers will apparently be eligible for crypto payments.

This alliance, which makes Bitbuy one of the league’s sponsors, will also allow the cryptocurrency platform to support CEBL. And thus, convert a portion of the salary of the players registered to the program from Canadian dollars to Bitcoin, which they will receive in their personal wallets.

Salaries in Bitcoin!

In this way, CEBL will be able to pay its players a portion of their salaries in Bitcoin, starting with the new season scheduled for June 24, 2021. Becoming the first professional sports league in North America to do so.

With this in mind, Mike Morreale, CEBL Commissioner and CEO said, “Our partnership with Bitbuy speaks to our commitment to gamers. And also from our forward-thinking approach to how we do our business. We appreciate Bitbuy’s investment in helping us.

In this way, according to an announcement on Thursday, the CEBL together with Bitbuy, will allow players to accept a part of their salaries in Bitcoin starting next week.

As a curious fact, the Canadian Elite Basketball League (CEBL) is unwilling to say how many players are enrolled in its Bitcoin salary program. Because, until now it is still early.

It is worth remembering that in other leagues, athletes have already chosen, individually, to receive a portion of their salary in Bitcoin. In particular, Russell Okung of the Carolina Panthers was the first to do so in the NFL in 2020.

What does one of your players think?

In this regard, Guelph Nighthawks player Kimbal Mackenzie was one of the first to sign up for the Bitcoin wage collection initiative. The 24-year-old point guard recently re-signed with the team for the 2021 CEBL season.

‘I’m by no means a cryptocurrency genius. But, I did research to understand that people smarter than me predict that the value of Bitcoin will eventually be much higher than it is now.

He also stated: “The opportunity to receive a payment in Bitcoin is something that I am incredibly excited about. The possibility that part of my salary goes directly to an investment that I think will appreciate a lot over the next 10 to 30 years is obvious.

He also added that he would accept half his salary in Bitcoin. And apparently he wasn’t worried about any potential volatility:

If Bitcoin falls, so be it. It was a decision he was willing to make. On the other hand, if it increases, I may retire in two years.

In this regard, Charlie Aikenhead, Vice President of Marketing for Bitbuy said: “We are proud to support local Canadian sports and to partner with the league on this pioneering initiative in the market. Equally, we are excited to help CEBL players protect their long-term wealth by charging in Bitcoin.

In closing, I leave with this phrase by Kimbal Mackenzie: “I believe that cryptocurrency is the future.”

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