MLB's Oakland Athletics Plan to Hold Any Bitcoin From Suite Sales

The Oakland Athletics this month are offering a full-season suite for the price of 1 Bitcoin. And now the team says it plans to hold onto any Bitcoin it receives as part of that initiative, per Bloomberg TV. 

“We’re going to hold it, we’re believers in it, and hopefully it continues to go up,” A’s president Dave Kaval told Bloomberg TV on Friday. “Maybe we can sign some big free agents with some of the proceeds—who knows?”

Buying a full season suite with Bitcoin

The Athletics, better known as the A’s, announced on March 14 they would offer full-season suites for the price of one Bitcoin through April 1, the official Opening Day for the MLB season. 

Obviously, the price of one Bitcoin is in constant flux. On March 14, one Bitcoin was worth more than $60,000. Today, it's at approximately $57,000. This means the price the A's are fetching for a season suite would also fluctuate, which, according to Kaval, only adds to the excitement. "That's part of the romance," he told Decrypt.

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+2.79%$107,596.54

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According to the Oakland A’s’ website, the regular price for a full season suite is $64,800. 

So when Bitcoin was at $60,000, anyone looking to buy a full season suite with 1 Bitcoin was already getting a discount—today, they'd be saving approximately $7,000. 

No one has yet taken the team up on its offer. But the A’s have set ten suites aside for purchase in Bitcoin, and Kaval is hopeful “two or three” will be sold by Opening Day, which is coming up on Thursday April 1.

"I think some people will do it," Kaval told Decrypt. He also told Bloomberg TV that the franchise has received “over a hundred inbound inquiries,” suggesting that while nobody has bought a suite with Bitcoin yet, there is definite interest.