In MLB First, Oakland A's Sell a Private Suite for 1 Bitcoin

The Oakland A’s is the first baseball team to have sold a luxury box for bitcoin.

• A’s President Dave Kaval tweeted Wednesday that crypto broker Voyager Digital had become the first buyer of a full-season suite at the Oakland Coliseum.

• The team announced March 14 it was selling private suites for the full 2021 season for either $64,800 or 1 BTC.
• The bitcoin paid by Voyager Digital was worth about $59,240 at the time of Kaval’s tweet.
• However, one must wonder what the firm’s cost basis was for the transacted bitcoin. Voyager Digital’s Stephen Ehrlich started as CEO in January 2018, when bitcoin was trading around $12,000.
• Kaval told Bloomberg on March 26 the A’s would hodl any bitcoin received from such sales and not convert it into fiat.
• “The price of a season suite may fluctuate depending on when it’s purchased, which adds to the excitement,” Kaval said when the scheme was announced.
• The A’s start the 2021 baseball season tonight in a home game against the Houston Astros.

Read more: Oakland Athletics Baseball Team Accepting Bitcoin for Private Suites