Bitcoin Uniquely Activating Around Major League Triathlon Event
Major League Triathlon will issue prizes after this weekend’s event in Charlotte in bitcoin cash, which the organizers believe is unprecedented in pro sports. The deal is part of a presenting sponsorship sold to Bitcoin.com, a content website dedicated to the cryptocurrency controlled by bitcoin advocate Roger Ver. In the deal, Bitcoin.com gets standard race course and finish-line signage, and will activate by emphasizing the speed of the transactions with athletes. Competitors who receive bitcoin cash prizes, which will be equivalent to the dollars they would otherwise earn according to current exchange rates, are free to convert it back to cash if they choose to. All athletes and volunteers will be issued a bitcoin wallet with a small amount of the currency. MLT CEO Daniel Cassidy said his organization has a track record of experimentation, and the athletes will embrace the test run. “Our athletes trust us a lot. We’ve developed that trust over the last couple of years, and I know they’ll be really excited about this as well once we tell them,” Cassidy said. As of yesterday, one bitcoin cash was worth $530.91, down about 88% from its peak in late December of '17. The deal was negotiated for MLT by YSC Sports Marketing President Gabby Roe.