NBA's Kings to accept Bitcoin for tickets

Jan 16, 2014
A pile of Bitcoin slugs sit in a box on April 26, 2013 in Sandy, Utah

US basketball outfit the Sacramento Kings said Thursday they would begin accepting Bitcoin, the first professional sports team to accept the virtual currency.

Fans will be able to use Bitcoin for tickets and team merchandise from March 1, using the so-called cryptocurrency's payment processor BitPay.

The Kings said the move was part of majority team owner Vivek Ranadive's "NBA 3.0" philosophy, aimed at tapping to boost the team.

"With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets," Ranadive said in a statement.

"A major tenet of the NBA 3.0 philosophy is about utilizing technology for the betterment of the fan experience, and this is yet another step in that process."

Based in Sacramento, California, the Kings have done poorly since last appearing in the post-season playoffs in 2006.

As of Wednesday night, their record was 14 wins and 23 losses.

Bitcoin were trading at around one to $930 in late Tuesday, according to the MtGox market, compared to $945 late Wednesday.

Explore further: Zynga adoption pushes Bitcoin back over $1,000

add to favorites email to friend print save as pdf

Related Stories

Banking group sees limited future for Bitcoin

Jan 09, 2014

The online currency Bitcoin has shown unexpected success but its future as a broadly accepted exchange medium is limited, according to a report by a global banking group Thursday.

China online marketplace Taobao to ban Bitcoins

Jan 08, 2014

China's largest online marketplace, Alibaba Group's Taobao, said Wednesday that it would ban the trading of Bitcoin and other virtual currencies from January 14, after a government crackdown on the units.

New fund launched for bitcoin investors

Sep 26, 2013

Bitcoin Thursday got a lift with the arrival of a new investment vehicle that lets wealthy and professional investors bet on the virtual currency.

Recommended for you

YouTube goes online for second Music Awards

Nov 20, 2014

The YouTube Music Awards are undergoing an overhaul for their second edition next year, scrapping a star-studded gala and instead looking at videos' online buzz.

China Premier calls for greater role in shaping Web

Nov 20, 2014

Chinese Premier Li Keqiang Thursday demanded a greater role for Beijing in shaping the global Internet, calling for "order" online as he failed to address his government's censorship of content it deems politically ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.