NBA’S Sacramento Kings Offering Bitcoin Salary Options for Players

Jafrin  |  Apr 7, 2021

NBA’s Sacramento Kings are set to offer Bitcoin as salary options payment to all players and staff members, as per chairman Vivek Ranadivé. The announcement was reportedly made during a Clubhouse session that the chairman was attending called the Satoshi Roundtable. Venture capitalist, Tim Draper, invited Ranadivé to join him as a speaker.

NBA Team Offering Bitcoin Salary Options

Chairman and CEO of NBA’s Sacramento Kings announced that all employees of the team will now have the option to receive a part of their salary in Bitcoin.

“I'm going to announce in the next few days that I'm going to offer everyone in the Kings organization, they can get paid as much of their salary in bitcoin as they want, including the players.”

The official announcement should come out in the next few days.

It is still unclear as to how the Kings will facilitate the bitcoin payments to players and staff.

Sacramento Kings Familiar With the Crypto Space

This is not the first time, the Sacramento Kings has dabbled in the world of cryptocurrency space. In 2014, the team announced accepting Bitcoin as payment for merchandise in their team store in partnership with payment processor BitPay. It even started mining cryptocurrency in 2018. A year later, the NBA franchise released the “Kings Token,” which was made to reward fans that demonstrated engagement with the team.

In addition, the Sacramento Kings also collaborated with CryptoKaiju to launch a line of physical crypto-collectibles in professional sports. NBA’s first live blockchain-powered auction platform for authentic memorabilia with Consensys and Treum was also launched by the Kings.

Meanwhile, major NFL league player, Russell Okung made headlines late last year for becoming the first NFL player to convert some of his $13 million salary into Bitcoin.

The Sacramento Kings’ latest crypto move comes at a time when Bitcoin’s price is nearing its all-time high of $61,000.

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