In MLB First, Oakland A's Sell a Private Suite for 1 Bitcoin
A’s President Dave Kaval previously said the baseball team would “hodl” the bitcoin received from sales and not convert it into fiat.
Apr 1, 2021 at 2:25 p.m. UTCUpdated May 9, 2023 at 3:17 a.m. UTC
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The Oakland A’s is the first baseball team to have sold a luxury box for bitcoin.
- A’s President Dave Kaval tweeted Wednesday that crypto broker Voyager Digital had become the first buyer of a full-season suite at the Oakland Coliseum.
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- The team announced March 14 it was selling private suites for the full 2021 season for either $64,800 or 1 BTC.
- The bitcoin paid by Voyager Digital was worth about $59,240 at the time of Kaval’s tweet.
- However, one must wonder what the firm’s cost basis was for the transacted bitcoin. Voyager Digital’s Stephen Ehrlich started as CEO in January 2018, when bitcoin was trading around $12,000.
- Kaval told Bloomberg on March 26 the A’s would hodl any bitcoin received from such sales and not convert it into fiat.
- “The price of a season suite may fluctuate depending on when it’s purchased, which adds to the excitement,” Kaval said when the scheme was announced.
- The A’s start the 2021 baseball season tonight in a home game against the Houston Astros.
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