Top Football Club PSV Invests in Bitcoin

• Dutch football giant PSV has announced that it is holding Bitcoin on its balance sheet

• The prominent Eredivisie football club got the coins as payment for a sponsorship partnership with Anycoin Direct and decides to HODL

• Bitcoin and other cryptocurrencies are slowing recovery from the sudden crash that stormed the market on Monday

Dutch football club PSV Eindhoven has officially become the first European football club to hold Bitcoin on its balance sheet.

In August, the top club announced a 2-year partnership deal with cryptocurrency exchange Anycoin Direct.

The exchange paid for the entire sponsorship contract in BTC, which the Dutch club has decided to “HODL”.

PSV confirmed via its commercial director Frans Janssen that the coin is still being held in the club’s balance sheet.

Janssen stated that cryptocurrencies offer a promising future and fit into the club’s innovative ideas.

“The possibilities and the future that the world of cryptocurrency offers are very promising. As a club in the heart of the Brainport region, we are always innovating, and cryptocurrency fits well into this picture.”

The club has created the necessary wallets for the flagship cryptocurrency and harbors no intention to sell it.

Read also: Robinhood Set to Launch Stunning Crypto Feature

Meanwhile, the cryptocurrency market has bounced back after a sudden flash crash that ravaged the market on Monday.

The capitalization of the entire crypto market stands at $1.98 trillion, with Bitcoin trading above $44,000.

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