The Perth Heat of the Australian Baseball League is on track to be the first professional sports team to pay its employees in Bitcoin.

Staff and players will have the option to receive their wages in Bitcoin or a combination thereof.

“We can set their allocations, if they want to receive part in Bitcoin or part in cash – we can do that,” Heat chief executive Steve Nelkovski stated to the ABC.

“If they would like to receive 10 percent in Bitcoin or 90 percent cash, then we can help them.

“We are confident that in five year’s time, it won’t just be our players, but all professional athletes will have their salaries paid in Bitcoin.

Patrick O’Sullivan, Chief Bitcoin Officer at Perth Heat, stated that the Heat is committed to exploring additional cryptocurrency opportunities.

He stated in a club statement that “This is not a one time purchase to hedge against future uncertainty or inflationary pressures.”

“The Perth Heat embrace the fact that the future of money, corporate treasuries and the Bitcoin blockchain will be their reality.

Perth Heat accepts Bitcoin to purchase a variety of merchandise and treats, such as peanuts, hotdogs, and crackerjacks.

With technology that allows payments instantly on Bitcoin’s current value, the fabled currency volatility has been taken into account.

Nelkovski stated that, “Given the instant payments on the Lightning Network”, we can protect ourselves against that and pay the required salary or wage that week or fortnight (or whatever it might be) so that they’ll have protection against fluctuations in the Bitcoin price.”

We need to pay, for example, a player X amount of Bitcoin on the day. He’ll get that in Bitcoin.

“Now, if he decides that he will hold Bitcoin, and it loses value within a week, that’s his decision. In the same way, if you keep it and the price goes down, that’s his choice.

Perth Heat to pay players and staff in Bitcoin