Oakland A's major league baseball team now accepts Bitcoin for suites

WikiBit 2021-03-15 19:24

If they're willing to spend their crypto holdings, baseball fans can now buy a full season, six-person suite for the Oakland A's home season at the price of one Bitcoin.

Marie Huillet

1 hour ago

Oakland A's major league baseball team now accepts Bitcoin for suites

The Oakland A's, the team at the center of the box office hit movie “Moneyball,” is accepting a single Bitcoin as payment to secure a six-seat suite throughout the 2021 home season.

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The Oakland A's — the San Francisco East Bay ballclub at the heart of the Academy Award-nominated 2011 movie Moneyball — is greeting the new season with a Bitcoin-friendly offer for their fans.

Until April 1, the club is offering a full season, six-person suite for the home season at the price of one Bitcoin (BTC), currently valued at $57,653. That works out — for the time being — at a slight discount, given that the fiat currency price for a suite is fixed at $64,800.

Bitcoin's unprecedented price rise since Dec. 2020 has opened up the possibility for the A's to design an offer for fans that is also economically sound for the club. In an interview with reporters on March 14, club president Dave Kaval said:

Part of the reason we‘re doing this is the price makes sense. Since a Bitcoin is worth about the same as a season suite it gives our fans some different choices. And it kind of tests it to see if it’s something wed like to do in more aspects of our business."

Kaval added that a further factor in the decision to engage with crypto was its rising popularity in California, noting that"especially in the Bay Area you see more people discussing or transacting with Bitcoin." 100 full season suites, priced at 1 BTC, will be on sale for the new season. The go-ahead for games to open at 20% audience capacity was only recently confirmed by California Governor Gavin Newsom and remains subject to COVID-19 cases remaining under control.

Aside from the A's adoption of cryptocurrency payments, the increasingly popular market for non-fungible tokens has also been making inroads at the intersection of the art world and the Major League sports community. This February, bidders forked out millions of dollars for tokenized art from former second baseman Micah Johnson.

Meanwhile, blockchain sports firms like Chiliz have been attempting to get a foothold in the MLB fan base, recognizing the game as a potentially lucrative route to mass adoption of the technology.