It has emerged that 7 teams in the English Premier League (EPL) will begin testing bitcoin as a means of payment for player transfers. Premier league football clubs to use bitcoin in order to play for new players, this is just another example as to why bitcoin could soon replace currency as we know it.

The seven teams in question are Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and Crystal Palace. eToro have partnered with these 7 clubs so far in an effort to explore cryptocurrency and blockchain within the football world.

eToro, who are advertising in the EPL currently, have helped set up bitcoin wallets for the clubs and helped them to make their first bitcoin payments.

Premier League Football Clubs To Use Bitcoin

The ongoing advertisement campaign being run by eToro was actually paid in bitcoin.

“We’ve done a sponsorship deal, but rather pay them in traditional pound notes we’ve paid them in Bitcoins. What they choose to do with that is entirely up to them”

These clubs have since backed cryptocurrencies and noted about its’ potential in replacing the British pound in one of the biggest industries in the world. It would certainly make international payments of a huge scale easier, quicker and more secure. However, eToro also believe that blockchain and bitcoin to help clubs tackle “tackle tickets touting and counterfeit mechanizing”

Tottenham who will be playing in the Champions League this year have stated they are also ways looking for new and innovative ways to develop and push the club forwards.

“the club is committed to technology and innovation” Frans Jones.

Meanwhile, Paul Baber, the Chief executive at Brighton said, “ the project will help us understand the true potential offered by blockchain”

This could be huge move for cryptocurrencies and will certainly put them in the public eye. Cristiano Ronaldo has recently moved to Juventus for approximately £90 million whilst the biggest transfer ever was Neymar which was around £200 million. This demonstrates just how big the football industry is.

What impact do you think this will have on bitcoin and cryptocurrencies? Let us know on social media.

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