2021-05-04 20:08:34

Oakland A’s expanding cryptocurrency portfolio with Dogecoin

The Dogecoin started as a joke. It features the head of the doge from the popular meme, essentially poking fun at Bitcoin and the cryptocurrency world. In theory, it could be used where that type of transaction is permitted, but its value was minuscule.

That has begun to change. People began investing in the currency, promising to push the value sky high. At times, the hashtag #DogecoinToTheMoon trended on Twitter as speculators looked to get more people on board. We can now count the Oakland A’s amongst those willing to invest in this cryptocurrency.

Oakland A’s now accepting Dogecoin as currency

It did not take long for the A’s to get their first taker. Within two hours of the announcement, the team processed their first Dogecoin transaction, selling a pod of seats. At the current rates, that grouping of seats went for approximately $40.

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For the A’s, it is another venture into the cryptocurrency marketplace. Thye had previously announced that they would be accepting Bitcoin for a season pass to their suites, making them the first MLB team to accept any cryptocurrency at all. Their acceptance of Dogecoin just furthers their commitment to that marketplace.

This is clearly part of a long term strategy for the A’s. As a smaller market team, they are looking for any way possible to increase their operational cash flow short of ownership dipping into their own pocketbook. Considering how hot cryptocurrency, and that market, is right now, it is understandable that the team would be interested in such an investment.

It is a worthwhile gamble for Oakland to take. Should the markets for both continue to rise, the team stands to make a tremendous profit. Likewise, there is plenty of risk, particularly with Dogecoin. But this is a risk that A’s need to take.

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The Oakland A’s have been at the forefront of the cryptocurrency revolution in Major League Baseball. Now, they are accepting Dogecoin as well.

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