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Oakland Athletics close to selling first $64,000 luxury suite using bitcoin

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David Kaval, President of Oakland Athletics, said the A’s are about to sell the first luxury suite with Bitcoin, part of a promotion that expires April 1.

“I think we’ll probably have a deal today or [Friday] to see the first, “Kaval told CNBC’s The Exchange.

This week, the A’s made 10 suites available for purchase using Bitcoin, up 1.1% and trading above $ 59,000 per share on Thursday afternoon. Consumers can pay one bitcoin in exchange for a luxury suite for the 2021 Major League Baseball season. A suite typically costs $ 64,000 per year. Kaval called the campaign a “Bitcoin discount”.

Although the A’s are the first MLB team to experiment with Bitcoin to sell suites, other professional sports teams like the Sacramento Kings of the National Basketball Association have offered to buy goods in digital currency. The kings have been accepting Bitcoin since 2014.

“We thought this was a great way to test the market to see if there really was interest in transactions in the cryptocurrency rather than just using them to store value, and we thought there was a suite for that Game of A exists for an entire season. ” A good start, “said Kaval.

“If you see it in baseball, you can see it anywhere,” added Kaval. “It’s an important point to see if this is a real opportunity to trade in the market.”

MLB will return to a 162-game schedule this season after Covid-19 played a 60-game campaign last year. The A’s are allowed to have 20% capacity as the pandemic continues, but Kaval said the team is “on track” to reach full capacity in July. President Joe Biden said the vaccine should be widely available by May.

“I think we’re in and we want to do it safely for our players, fans and staff,” said Kaval. “I think it will happen this year and it will be a great moment to celebrate how to get through the pandemic.”

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Robert Dunfee