Dutch Football Team AZ Alkmaar to hold Bitcoin and pay players in BTC


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AZ Alkmaar is set to become the first professional football club in the Netherlands to pay players in Bitcoin (BTC).

at statement Posted on the club’s website on Thursday, the Eredivisie team, which finished third in the 2020/2021 Dutch football season, announced that crypto broker Bitcoin Meester is its exclusive and official cryptocurrency partner until mid-2024.

According to the announcement, the entire Bitcoin sponsorship deal has been completed, as the Dutch club announced its intention to keep the amount of BTC on its balance sheet.

AZ Alkmaar will reportedly start paying players in Bitcoin, joining the growing list of sports franchises that are adopting BTC to pay professional athletes.

For AZ Commercial Director Michael Koster, the allure of Bitcoin and cryptocurrencies is undeniable, hence the club’s decision to adopt BTC. “The cryptocurrency market is booming, with massive user growth in recent years,” Koster added.

Koster added that non-crypto entities such as football teams require direction from market participants such as Bitcoin Meester. In fact, the crypto broker is one of the few cryptocurrency companies licensed by the Dutch Central Bank.

Cryptocurrency regulations seem to be a major topic of discussion among authorities in the Netherlands, with a government official recently calling for the issuance of Complete Bitcoin Ban.

Related: Tom Brady and Gisele Bundchen acquire stake in cryptocurrency exchange FTX

Crypto companies are increasingly entering into sponsorship deals with sports teams to boost brand recognition and grow their business. As previously reported by Cointelegraph, Crypto.com recently announced a file Global partnership with Formula 1.

From Major League Baseball to the National Basketball Association, many American sports franchises and star athletes are also embracing bitcoin and cryptocurrency. Back in June, seven-time Super Bowl champion Tom Brady Signed a crypto endorsement deal for celebrities With cryptocurrency exchange giant FTX.