Everyone is asking when the next Bitcoin bull run will happen, but truth be told – nobody knows. There are a few factors that could spur on the next bull market though, and one of those is the possibility of Premier League football teams using cryptos to make transfers in the January transfer window. Some of the Premier League’s biggest teams have already embraced Bitcoin and cryptocurrencies, as several signed a deal with eToro before the start of the season. Now, given the success of this deal, there is a good chance that others will want a slice of the action too.
Perfect for Last Second Deals
As Riyad Mahrez knows only too well, deals struck in the last few minutes of the transfer window won’t go through unless the funds have cleared. Unfortunately, fiat transactions of Premier League proportions take a few days to clear, meaning last second deals are hard to strike. However, with Bitcoin and its maximum transaction time of 10 minutes, we could see a wave of deadline day Bitcoin transfers. Cryptocurrencies give clubs and agents the power to make last second decisions and complete deals before the clock runs out.
Clubs Starting to Use Crypto and Blockchain Technology
Another key deciding factor in the currency to be used for the January transfer window is advertising deals. Tottenham Hotspur has a nice stash of Bitcoin from the eToro advertising deal and the club could use it to snatch up some hot talent in the January window. There are a range of other clubs that have Bitcoin squirreled away. Paris Saint-Germain and Juventus are both looking to create their own crypto fan tokens, giving fans the ultimate way to get involved with the club’s activities. Elsewhere, Avai FC in Brazil is hosting an ICO to raise crypto funds to keep the club going, meaning there are plenty of clubs out there with cryptos they can swap for players.
Deals Already Being Done with Bitcoin
Bitcoin has already proved itself as a good currency for player transfers. Harunustaspor – a Turkish amateur football team – signed its first player using Bitcoin back in February. This landmark achievement shows that the potential is there and that the process works. While Bitcoin might not be the final cryptocurrency that the footballing world adopts, Harunustaspor has proved that it’s possible and could work.
It’s unlikely that the Premier League will host its first cryptocurrency player transfer in the January window, but that doesn’t mean it won’t happen in the near future. If the Premier League makes a player transfer in crypto, it will prove to the world that crypto is a viable method of payment, and we could see hordes of football fans entering crypto markets. Until then, we will have to keep paying for our tickets, pies, and beers with whatever fiat currency we have lying around.