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Dallas Mavericks embrace Bitcoin

The Dallas Mavericks have become the second team in the NBA basketball league to accept Bitcoin, a form of cryptocurrency, as a method of payment for game tickets and merchandise.

The Mavericks will utilise the service provider BitPay to process all Bitcoin purchases. Founded in 2011, BitPay has offices in North America, Europe, and South America and has raised over $70m (€62.8m) from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth.

Dallas Mavericks owner Mark Cuban said: “We want our fans who would like to pay with Bitcoin the opportunity to do so. BitPay allows our global fans to seamlessly make purchases with the Mavs.”

In January 2014, the Sacramento Kings announced they would become the first major professional sports franchise to accept Bitcoin.

The Kings are also utilising BitPay and at the time, majority owner Vivek Ranadivé said the initiative marked the latest development in his ‘NBA 3.0’ strategy, which focuses on investments in technology, globalisation and deep community partnerships.