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."
Kings Become First Pro Sports Team to Accept Virtual Currency Bitcoin - http://t.co/kryGajZm1W #ForeverPurple
— Sacramento Kings (@SacramentoKings) January 16, 2014
Sacramento Kings Coverage
Kings End Season Exactly The Same As And Totally Different Than Last Year
Wednesday, April 16, 2014The Sacramento Kings finished the 2013-14 season with exactly the same record as 2012-2013. But, the team and its fans say it sure feels different.
City Will Get All Local Sales Taxes On Arena Construction Costs
Tuesday, April 15, 2014The City of Sacramento could get as much as a million dollars as the local share of construction-related sales taxes collected for a new arena downtown.
Sacramento’s Downtown Plaza Tenants Feel Effects of Arena
Monday, April 14, 2014As the demolition date for the portion of the Downtown Plaza where the arena will be built looms, business owners prepare to move or close.
Sacramento Planners Approve Downtown Arena Design
Friday, April 11, 2014Sacramento's Planning and Design commission have approved plans for the King's downtown arena.
Judge Gives Sacramento Possession Of Old Macy's Building In Downtown
Friday, March 21, 2014A judge has given Sacramento possession of a former Macy's department store downtown, the last parcel of land needed for the development of a new sports arena.