April 6, 2021

Sacramento Kings to Offer Bitcoin as Salary Option

The Sacramento Kings are ready to ride the Bitcoin wave.

Owner Vivek Ranadive announced on Clubhouse on Monday that the organization would start offering its players and employees the option to be paid in the cryptocurrency Bitcoin.

The Kings have been one of the more forward-thinking franchises in the league thanks to Ranadive's tech background. Their arena is entirely solar-powered and has WiFi speeds with enough broadband to cover a small city.

Way back in 2014, the Kings even accepted Bitcoin as payment for some of their merchandise.

In the past year, Bitcoin has started to become accepted by the mainstream and, in turn, the price has soared as high as $59,000 per BTC. Major banks such as Wells Fargo and Morgan Stanley as well as PayPal and even Chipotle have all embraced the new payment method.

Bitcoin is a form of virtual currency that gives its users true ownership of their money. Some athletes have already started embracing the technology. NFL left tackle Russell Okung negotiated some of his salary in Bitcoin, while Spencer Dinwiddie has tried to crowdfund through the currency as well.