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
Judge Denies Attempt To Move Arena Eminent Domain Case
Tuesday, March 11, 2014(AP) -- Sacramento's eminent domain lawsuit against the owners of a former Macy's department store downtown will be tried in the city.
STOPPED: Judge Tosses Petitions From Group Opposed To Publicly-Funded Arena
Wednesday, February 26, 2014A Sacramento County Superior Court Judge has ruled against two groups that sued the Sacramento City Clerk over her decision to keep an arena-funding measure off the June ballot.
Stop Sign Looms For Opponents of Publicly Funded Kings Arena
Friday, February 21, 2014A Sacramento Superior Court Judge has told attorneys he is inclined to rule against two groups suing the City of Sacramento. They are suing over rejected arena-funding petitions.
Mayor Johnson Says Arena Is Key To State Of The City
Wednesday, February 12, 2014Sacramento Mayor Kevin Johnson delivered his State of the City address with the great majority of it focused on the proposed downtown arena.
New NBA Commissioner Impressed With Sacramento Kings Arena Plans
Thursday, February 06, 2014Plans for a new Sacramento Kings arena are getting good reviews from new NBA Commissioner Adam Silver.