PSV is the first football club in the world to confirm that it has Bitcoin as an asset
Dutch club PSV, that is over 108 years old, has officially announced that it is the first football club in the world to have Bitcoin as an asset.
As a result, the 24-times winner of the Netherlands’ biggest football competition has joined the select group of BTC holders.
In August of this year, the team announced a partnership with the Anycoin Direct cryptocurrency exchange. The company became the club’s official partner for two seasons.
As part of the deal, the exchange paid the sponsorship contract entirely in Bitcoin. This is the first time this has happened among the main European football clubs.
In addition, PSV recently confirmed to Bitcoin Magazine that the BTC received is still on its balance sheet:
“The possibilities and the future that the world of cryptocurrency offers are very promising. As a club in the heart of the Brainport region, we are always innovating. And cryptocurrencies fit well into that picture,” said Frans Janssen, PSV’s commercial director.
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In addition to keeping Bitcoins, the club stated that it has no plans to sell them.
“Anycoin paid us its sponsor rights through a certain number of Bitcoins that we keep in our own wallet. We have no plans to sell,” said Janssen.
According to experts, PSV’s pioneering move should lead other clubs to adopt Bitcoin. This will be mainly due to the growing involvement of the sports industry as a crypto universe.
“As the BTC continues to gain purchasing power against the euro, clubs without Bitcoin exposure will be at a disadvantage. This will likely be demonstrated in transfer windows, when PSV can secure better players because of the overvalued BTC on its balance sheet,” said a cryptocurrency specialist known as Namcios.
Eindhoven Football Club PSV play in the Eredivisie, a league in Dutch football. In addition to the national trophies, the club also won the UEFA Cup in 1978 and the European Cup in 1987-88.