They may be at the bottom of the Premier League but Watford FC is now accepting bitcoin.
The popular English league football team has found a new sponsor in Sportsbet.io who will have its logo on the Watford players sleeve for the foreseeable future.
According to the DailyMail, the logo for bitcoin will also be on the sleeves for the upcoming match this weekend at home against Arsenal.
This alone is great news for the crypto space but that isn’t the only round of bullish news…
Other Premier League teams such as Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and Crystal Palace have all agreed to set up digital wallets with an online trading platform which states it doesn’t have any doubts that cryptocurrency will eventually replace the British sterling in the multi-billion pound transfer industry.
According to the popular eToro trading platform (which has paid football clubs to get involved with the movement), the aforementioned bitcoin system will also help clubs fight ticket touting and knock-off merchandise.
The rise in the price of cryptocurrencies has been often accompanied by an increase of general interest by big institutional investors, or in this case one of the biggest football leagues in the world. At the end of 2017, we saw a lot more people enter the market who probably never even heard of cryptocurrency or blockchain and get involved with the space.
This isn’t the first time football has involved with crypto and blockchain though.
Earlier this year, the CEO of TRON Justin Sun received what looked like an invitation from Liverpool Football Club. However, TRON was just one of these platforms/firms and Liverpool quickly came out to say that they don’t plan on collaborating with TRON at all!
It will be interesting to see how this situation plays out with Watford and whether people will utilise for merchandise purchases. For more news on this and other crypto updates, keep it with CryptoDaily!