Crypto Currency News

Canadian basketball league offers to pay salaries in bitcoin to its athletes

This is a partnership between the Canadian Elite Basketball League and Bitbuy.

The Canadian Elite Basketball League (CEBL) will offer all professional athletes the possibility of receiving their salary in cryptocurrencies. The initiative was born from a partnership between the league and the Bitbuy exchange, to take effect as of next season, which will begin next week.

“Our partnership with Bitbuy speaks to our commitment to gamers and also our forward-thinking approach to how we do our business,” said Mike Morreale, CEO of CEBL. He added, “We appreciate Bitbuy’s investment in helping us further grow Canada’s official national professional basketball league.”

The league was launched in 2017 with just a handful of 6 teams belonging to the Canadian Basketball Ventures group, which will now have the possibility to collect part of their salary in bitcoin (BTC).

The operation of the payments will be the same as previous initiatives in the NBA or in the N FL. The exchange will convert the payments to be made in Canadian dollars for cryptocurrencies, to the price that is at the time of execution. Then the indicated amount is transferred to the personal accounts of each player, and that’s it.

Charlie Aikenhead, one of the Bitbuy executives, told Bitcoin.
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com that the initiative “will help CEBL players protect their wealth in the long term.” From the athlete’s perspective, one of the Guelph Nighthawks players, Kimbal Mackenzie , was quoted in the statement , which has already accepted the proposal and expressed his enthusiasm: “ The opportunity to get paid in bitcoin is something that excites me a lot. I believe that cryptocurrency is the future”.

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