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Dutch Football Club PSV Becomes First in League to Hold Bitcoin on Its Balance Sheet

UTC by Juhi Mirza · 3 min read
Dutch Football Club PSV Becomes First in League to Hold Bitcoin on Its Balance Sheet
Photo: Depositphotos

PSV’s decision to accept their sponsorship payment in Bitcoin has been heralded as a pioneering move and was recently introduced as a successful case proposing crypto supremacy.

PSV had made headlines before when they announced their contract with Anycoin direct, a BTC exchange, that had paid the contract money to the team in Bitcoin. In a recent interview given by the club to the Bitcoin Magazine, the club had confirmed that the BTC is still held securely in the club’s balance sheet.

PSV had become the first-ever European football club to have participated in a contract that had promised them their share to be paid exclusively in BTC. The said move had garnered a lot of attention from across the world and had left an impact on people convincing them to be more open towards the new digital assets paradigm.

PSV Intends to Spread Awareness Regarding Bitcoin Transactions

PSV’s decision to accept their sponsorship payment in Bitcoin has been heralded as a pioneering move and was recently introduced as a successful case proposing crypto supremacy with a prominent marketing event in the Netherlands. The club has also been looking forward to making crypto more mainstream to the masses by setting an example that people could relate to and easily connect with.

PSV’s decision to adopt BTC might also prove beneficial in terms of coaxing other football clubs to be more forthcoming regarding crypto transactions.

Anycoin’s COO Lennert Vlemmings has commented that he has always been very close to the PSV as a prominent football club and is thrilled to have secured an opportunity that allows him to sponsor the club. He also stated that the club’s decision to accept payment in Bitcoin is a very essential step in establishing ease towards cryptocurrency transactions and expediting the process for the world to accommodate crypto holistically.

Frans Janssen, commercial director of PSV has confirmed that they have independent crypto wallets to receive BTC payments. The club has been pursuing self custody of BTC from the start and has stated that they have no plans to sell the acquired crypto in the future. Janssen further opined that the club is always up for innovative processes and cryptocurrency seems to be a right fit for the club to explore and experiment with.

PSV, also known as Eindhoven Football Club, is a 108 years old Dutch football club. The club has earned many successful wins in matches. PSV had announced its sponsorship with Anycoin Direct in August, where the organization had decided to sponsor the club for two years followed by payments to be made in BTC.

Bitcoin News, Cryptocurrency news, News
Juhi Mirza
Author Juhi Mirza

Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.

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