Bitcoin Takes A Big Step Forward

bitvestment partners stepBitcoin has taken big strides to market the currency and to promote it so that it is used more regularly as traditional currency and credit cards are used now. The next big step is a ‘Bitcoin Bowl’ that they have agreed to with ESPN. This kind of exposure should definitely boost the public acceptance of the digital currency, Bitcoin. Jeff Stone of the International Business Times writes that the Bitcoin Bowl should “win over a public still skeptical of digital currencies and to get some good headlines in a year marked by bad press for its falling price and bankruptcy scandals, Bitcoin promoters are turning to America’s favorite pastime-football.” The marketing strategy for this pairing is rather bold, but should result in more usage of the currency. The agreement states that an NCAA-sanctioned game will occur on December 26 on Tropicana Field home to the Tampa Bay Rays. The O’Brady’s restaurant chain and magicJack, the USB manufacturer, have both formerly sponsored this particular game. For Bitcoin and most notably, Bitpay this game has the potential to really propel them into the national spotlight as the main sponsor for this highly televised event. The Executive Chairman of BitPay, Tony Gallippi pointed out that Bitpay probably has the most to gain from the press of the Bitcoin Bowl because, as the Bitcoin payment system, they are accepted at over 30,000 businesses. Media exposure from the bowl should get them into the TVs of more that 100 million Americans. This endorsement is huge for the future of Bitcoin.

In addition to getting exposure to all of ESPN’s viewership, BitPay has struck a deal that will allow ticket buyers to purchase their tickets to the game with Bitcoins. A spokesman for Bitcoin has also announced that the winning team’s university can opt to receive their $500,000 in prize money in Bitcoins! The Bitcoin Bowl is the first major deal between Bitcoin and a TV network and they are contracted to sponsor the bowl for four years. It seems like the purchasing and marketing possibility ideas are endless.