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In MLB First, Oakland A's Sell a Private Suite for 1 Bitcoin
A’s President Dave Kaval previously said the baseball team would “hodl” the bitcoin received from sales and not convert it into fiat.
The Oakland A’s is the first baseball team to have sold a luxury box for bitcoin.
STORY CONTINUES BELOW
- 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.
Congrats to @investvoyager for purchasing the first full season suite for one Bitcoin! We’ll see you at the ballpark tomorrow. #Bitcoin @Athletics @MLB 💯⚾️
— Dave Kaval (@DaveKaval) March 31, 2021
- 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
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
