The Kings announced Thursday that fans will be able to buy gear from the official team store and pay for tickets with the digital money beginning March 1. Purchases will be processed through BitPay, which accepts the digital dollars and pays the Kings in cash.
Bitcoin users buy digital money and load it onto a virtual wallet. Unlike government-issued money, the value of Bitcoin fluctuates rapidly. At one point Thursday, the value of one Bitcoin was worth nearly $850.
Kings owner Vivek Ranadive said the new payment method is part of his model for "NBA 3.0, which focuses on investments in technology, globalization and deep community partnerships."
Sacramento Kings Coverage
Six months after receiving the approval to begin construction of a downtown arena, the Sacramento Kings and the City of Sacramento have broken ground.
The first demolition work is underway at the site of the Sacramento Kings' future home.
The Downtown Plaza garage entrances at 6th and J and 6th and L are now closed as construction begins on the downtown arena.
People with affiliations to the group Sacramento Taxpayers Opposed to Pork have filed notice they will appeal a judge's decision denying a request for an injunction blocking the downtown arena project.
Parts of Downtown Plaza will be demolished Friday to make way for the Sacramento Kings arena project.