Major Australian Baseball League Team Perth Heat to Pay Players in Bitcoin and Hold BTC on Balance Sheet

One of the most successful baseball teams in Australia, the Perth Heat, is adopting the bitcoin standard. The team will pay players and staff in bitcoin, accept the cryptocurrency for payments, and hold bitcoin on its balance sheet.

The Perth Heat Will Operate on Bitcoin Standard

The Perth Heat, a major baseball team in the Australian Baseball League, announced Wednesday that it will “operate on bitcoin standard.”

The team, which is one of the most successful in Australia, has partnered with bitcoin payments company Opennode to accept and send bitcoin payments powered by the Lightning Network. “In partnership with Opennode, the Perth Heat is setting bitcoin as the new standard for payments and payouts,” the team wrote. According to the announcement:

Perth Heat will pay players in bitcoin, pay staff in bitcoin, accept bitcoin payments for sponsorships, merchandise, and ballpark concessions, [and] hodl bitcoin on the club’s balance sheet.

Perth Heat CEO Steven Nelkovski commented: “We firmly believe that the mindset that bitcoin imparts on network participants will be felt by our players, coaches, staff, and our loyal fan base and we look forward to setting the bar for how much value a sports organization can bring to a community in the bitcoin age.”

Perth Heat Chief Bitcoin Officer Patrick O’Sullivan opined:

The Perth Heat are committed to operating according to a bitcoin standard and in doing so are shifting the corporate treasury from dollars to bitcoin.

He clarified: “The club has already established an initial position in BTC … This is not a one-off purchase to hedge against future uncertainties or inflationary pressures. The Perth Heat are embracing the reality that the future of money and corporate treasuries will live on the Bitcoin blockchain.”