15 April 2024
Bitcoin adoption is soaring across sectors, emerging as a standard in the sports industry. Demonstrating this trend, a UFC winner has requested his bonus to be paid in Bitcoin, underscoring the cryptocurrency’s increasing prominence within the sports sector.
Bitcoin Becomes Price Of Choice For UFC Winner
Brazilian professional Mixed Martial Artist (MMA) and UFC 300 winner, Renato Moicano took to X (formerly Twitter) on April 14, to demand that his $300,000 bonus should be paid in Bitcoin. The declaration came as a pleasant surprise to crypto enthusiasts under the comment, as many supported his new stance on the world’s most popular cryptocurrency.
On Saturday, April 13, Moicano knocked out American MMA, Jalin Turner at UFC 300, achieving his third consecutive win. Following this victorious match, Moicano took the mic to give a quick but powerful speech.
The UFC winner expressed his love for America, emphasizing his admiration for the Constitution and the fundamental right of freedom of speech protected by the First Amendment. He passionately recommended that anyone who truly loved their country should study the teachings of Ludwig Von Mises, an American Austrian school economist known for his book, ‘The Six Lessons of the Austrian Economic School.’
The Six Lessons of Mises is a compilation of the author’s perspectives on inflation, capitalism, socialism, interventionism, foreign investment and politics. Moicano has encouraged people to read this book, suggesting that understanding its economic principles could contribute significantly to the development and prosperity of the nation.
Interestingly, the Six Lessons of Mises is also a book considered by many as a cornerstone for understanding Bitcoin. The lessons offer valuable insights into addressing modern economic challenges, some of which Bitcoin effectively addresses today.
As a digital asset perceived to be the ultimate digital store of value, Bitcoin could serve as a hedge against economic inflation, providing investors with a safe place to preserve their wealth amidst economic turmoil. The cryptocurrency was also previously seen as a leading indicator of inflation, suggesting that Bitcoin could be used to track inflationary movements.
The Rise Of Crypto In Sports Sector
Since its inception, cryptocurrencies have been growing rapidly in different sectors, providing solutions to the limitations of traditional finance systems. This rapid expansion not only underscores the growing adoption and acceptance of Bitcoin and other cryptocurrencies across diverse sectors but also highlights the increasing interest among athletes and sports organizations.
While Moicano showed support for Bitcoin by requesting for his bonus to be paid in the popular cryptocurrency, Vechain, a smart contract-compatible blockchain, landed a $100 million five-year heavyweight partnership with the UFC on April 13.
Additionally, earlier in 2022, the mixed martial arts company announced that it would be paying its fighter’s bonuses in cryptocurrencies. These developments effectively highlight the rise of cryptocurrencies in the sports sector, extending beyond UFC to include other sports like football, NBA and more.