American professional soccer team, the Houston Texans, have become the latest National Football League (NFL) team to accept Bitcoin as payment for game suites.
The club said it had made its first crypto sale after selling the suite to digital marketing agency EWR Digital. Single game suites are exclusive football viewing spaces in stadiums that accommodate a small number of fans who want access to unique benefits such as food and drink and a preferred gaming experience.
Houston Texas BitWallet Partner
This development is part of a partnership agreement with US-based cryptocurrency platform BitWallet. According to the announcement, the latter has become the official digital currency wallet from Houston Texas.
BitWallet will facilitate crypto payments for the game suite and convert the proceeds to US dollars for the club.
In addition to BTC, Texas fans may be able to pay with other cryptocurrencies such as Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) as these assets are supported on the BitWallet platform.
Company CEO John T. Perrone commented on the development noting digital currencies have become a major means of payment, and by partnering with BitWallet, Texans are leading the way in the NFL.
"We're proud to partner with BitWallet to offer an exciting option for our fans who want to enjoy Texas games in one of our suites," said Houston Texas President Greg Grissom.
NFL Team Adopt Crypto
Despite the Houston Texans claiming to be the first NFL team to accept crypto payments, its Nashville-based rivals, the Tennessee Titans, announced in April that they had partnered with digital asset fund UTXO Management to enable bitcoin payments, allowing fans to purchase season tickets, game suites and sponsor with BTC.
Meanwhile, apart from the Texas and Titans, other NFL teams have gained exposure to the crypto industry through exclusive partnerships and sponsorship deals.
Then, in April, the Dallas Cowboys signed a sponsorship deal with crypto exchange and wallet provider BlockchainCom, making the exchange the exclusive digital asset partner and sponsor of the NFL team.
Crypto Market Down, Bitcoin Touches IDR 314.30 Million
Previously, bitcoin was observed to decline on trading Friday, August 19, 2022. Bitcoin fell to its lowest level in more than three weeks to a position below USD 22,000 or around Rp. 327.33 million (assuming an exchange rate of Rp. 14,878 per US dollar). It comes amid a sudden crypto selloff in early European trading.
Launching CNBC, Saturday August 20, 2022, bitcoin fell from USD 22,738 or IDR 338.32 million to below USD 21.1234 or around IDR 314.30 million at 4:00 pm local time based on CoinDesk data. Previously, the cryptocurrency fluctuated between USD 21,500 and USD 22,000. The drop came shortly after the world's largest digital coin surpassed the $25,000 level for the first time since June.
Meanwhile, ether fell from USD 1,808 to USD 1,728 or around Rp. 25.71 million at the same time before having a limited rebound, and had to slip further to USD 1,683.90 or around Rp. 25.04 million at 4:00 pm local time.
“This does not indicate a flash crash pattern, as the asset did not immediately rebound sharply but sank lower in the hours that followed. It appears to have occurred as a result of a large sell-off, in the absence of other external factors,” said senior investment and market analyst at Hargreaves Lansdown, Susannah Streeter, quoted from CNBC, Saturday (20/8/2022).
Streeter said it appears cardano is making the first declines, followed by bitcoin and ether. Then followed by smaller coins such as Dogecoin.
Follow Stock Market Movement
Digital coins may also follow the movement of the equity market which is trending lower. Crypto market analyst at eToro, Simon Peters observed that the US equity market was starting to sag after the Fed announced the minutes of its meeting with the central bank's results that it will continue to increase interest rates until inflation starts to control.
While the Fed also has no guidance regarding future rate hikes.
“With the close correlation between US equities and crypto in recent months, I suspect this has filtered into the crypto market and that is why we are seeing a sell-off. This trend may also be exacerbated by the liquidation of long positions in the perpetual bitcoin futures market,” he said.
Citing Coinglass data, Peters said it had been the largest liquidation of longs positions since June 18, as bitcoin hit its lowest price this year around USD 17,500.
Bitcoin and ether ended Thursday in the red, but ether has surged more than 100 percent since mid-June as investors brace for a massive upgrade to the ethereum network.
bitcoin analysis today, why bitcoin is down today, bitcoin analysis tomorrow, why is the crypto market red today, BTC/USD news today, bitcoin dropped today.