The first ever football transfer has already been made using Bitcoin. The transfer was barely at the standards of the Premier League or La Liga, but nevertheless, it stands as a milestone for both football and the world of cryptocurrency. The transfer involved 22-year-old player Omar Faruk Kiroglu, who accepted part of his payment in Bitcoin.
Turkish Club Makes Historic Transfer
It was Turkish club Harunustaspor who claim to have made the world’s first Bitcoin football player transfer. You can be forgiven for not having heard of the club, as they are an amateur side who play in the Sakarya First Division Group B. The small club likely made the transfer to gain exposure and make history.
Kiroglu received 0.0524 in Bitcoin, which was worth just over £385 at the time that the transfer took place. He also received 2.500 Turkish lira, worth around £450. According to Kiroglu, “we are doing something new,” and indeed he is right.
The promotional push has seen the Turkish club all over the media. Maybe more amateur clubs and players will follow suit, seeing the impact it has had. Like chairman Haldun Sehit has said, the transaction will raise the clubs profile in Turkey and beyond, including in the cryptocurrency community. “This is a first for Turkey and the world in the transfer market.”
Cryptocurrency and Football Coming Together
Cryptocurrency and sports have been increasingly coming together in recent times. The transfer of a player is one example, though, at that level, it barely raises the profile of cryptocurrency in the long run. Now, there are fully operational sports betting and online poker sites that utilise cryptocurrency. So, it’s possible to bet on games using your coins.
Perhaps more prolifically, Arsenal have just made a deal that sees them partner with a crypto/blockchain partner called CashBet, a gaming platform for online casino and sports betting using cryptocurrency. Recently, former England striker Michael Owen has also announced that he is investing in a Singapore-based cryptocurrency exchange.
There has even been speculation that the transfer of the little-known Turkish player using Bitcoin is a sign of things to come and that one day soon there will be a Premier League football player who was bought using Bitcoin. The club who could be there first? Maybe the Wolves, according to Blocktrade.com. Their current club owners invest heavily in the blockchain and Bitcoin and could use the club to further legitimize cryptocurrency.
What is this Bitcoin anyway?
Bitcoin is a digital currency that exists on a decentralised peer-to-peer network. The currency, once bought, can be kept in an e-wallet, and your ownership of it is recorded on the blockchain — a kind of massive chain of transactions that have been validated across the network. It sounds complicated, but Bitcoin aims to exist as a currency independent of the banking system.
Bitcoin was created in 2009, and since then has been gaining value, especially in the boom of 2016. Now, though the price has been slumping, there have been more opportunities to use Bitcoin and other coins for goods and services. The transfer of a football player and the news that Arsenal have just signed with a sponsor in the cryptocurrency world is big news given that football is one of the world’s most celebrated sports.