Bitcoin is hitting the big time.
This morning, ESPN Events announced that BitPay, a bitcoin payment processor, has won the sponsorship of the postseason college football game played in St. Petersburg, Florida.
For the next three years, the bowl will be called the Bitcoin St. Petersburg Bowl.
"Our goal is to continue to move bitcoin into the mainstream and sponsoring the St. Petersburg Bowl offers us that opportunity," Tony Gallippi, Executive Chairman for BitPay, says in a statement released this morning. "College football fans and the bitcoin community represent a similar target demographic -- tech-savvy men between the ages of 18 and 40."
The sponsorship for the St. Petersburg Bowl came open when Florida-based sports bar and grill chain Beef 'O'Brady's announced earlier this year that it was not renewing its title sponsorship.
So far, Twitter has been having fun with the announcement:
From Matt Brown, a college football writer for Sports on Earth:
To be fair, I've only ever heard of Beef 'O' Brady's because of that bowl game too.
— Matt Brown (@MattBrownSoE) June 18, 2014
From Matt Porter, the Miami Hurricanes beat writer for the Palm Beach Post:
I'm just gonna call it the Beef O'Bitcoin Bowl. pic.twitter.com/QgVRUVctyJ
— Matt Porter (@mattyports) June 18, 2014
From Andy Staples, a college football writer at Sports Illustrated:
— Andy Staples (@Andy_Staples) June 18, 2014
Others have questioned whether the announcement is a joke or whether bitcoin is even real.
While the St. Petersburg Bowl is not one of the bigger bowl games of college football postseason, the sponsorship is sure to raise awareness about BitPay and about bitcoin.
This is not the cryptocurrency's first foray into the sports arena. For instance, the NBA's Sacramento Kings announced in January that it would accept bitcoin for ticket and merchandise purchases. Users of the altcoin Dogecoin in May sponsored Nascar driver Josh Wise at Alabama's Talladega Superspeedway.
Want to know more about bitcoin? Find out why it's like Kim Kardashian and the honey badger.
What do you think of this sponsorship?
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