At Modern Luxury, connection and community define who we are. We use cookies to improve the Modern Luxury experience - to personalize content and ads, to provide social media features and to analyze our traffic. We also may share information about your use of our site with our social media, advertising and analytics partners. We take your privacy seriously and want you to be aware that we have recently made changes to our Privacy Policy, which can be found here.

I AGREE
    

The Sacramento Kings Will Now Accept Bitcoin

Scott Lucas | January 16, 2014 | Lifestyle Story City Life

Need to find a new place to spend those Bitcoins ever since Silk Road shut down? Good news—instead of purchasing black tar heroin and the services of (probably fictional) hit men, you can put that digital gold to a slightly more socially acceptable use. Like basketball tickets. Only one catch though: You have to be a fan of the lowly Sacramento Kings.

The Kings announced today that they would begin accepting Bitcoin for tickets and souvenirs. They are the first major league sports team to do so (though we imagine that Mendocino Quidditch League champions, the Ron Paul Revlovelutions, probably take Bitcoin already.)

According to NBC, "Kings owner Vivek Ranadive, who was once minority owner of the Golden State Warriors, 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.''" Bitcoin has already been accepted by online retailer overstock.com, as well as dozens of businesses in the Bay Area.

The move comes as the online currency continues to gain mainstream legitimacy. Just days ago, Wells Fargo held a meeting of executives, experts, and government officials to discuss the "rules of engagement" for the bank. Earlier in January, a San Francisco hedge fund became perhaps the first firm to hire a dedicated Bitcoin trader.

All of this news makes us wonder—now that the jocks and the suits have discovered Bitcoin, will the techno-futurists find another way to handle their transactions? Will Bitcoin stop being cool? Has it already turned into the next Bernal Heights? Because, come on—if they're using it in Sacramento, it can't be hip anymore.

Have feedback? Email us at letterssf@sanfranmag.com
Email Scott Lucas at slucas@modernluxury.com
Follow us on Twitter @sanfranmag
Follow Scott Lucas on Twitter @ScottLucas86



Tags:

Photography by: