Paris Saint-Germain (PSG), one of Europe’s most valuable football clubs, has officially bought Bitcoin (BTC). With this, PSG is making history by entering the sports Institution into digital assets.
At the Bitcoin LA conference, Pär Helgosson, Head of Web3 and Metaverse at Paris Saint-Germain, announced, “We took our fiat reserve and we actually allocated Bitcoins, we still have it in our books.”
As one of the largest clubs in the world, PSG is now the largest player in the sports ecosystem to hold Bitcoin as a strategic reserve. Helgosson said that PSG is now in the same boat with all the builders and faithful people engaging in the bitcoin ecosystem.
He further revealed that PSG labs that was established last year, is now accelerating Bitcoin nerds and ventures. He said, “We will launch with you, we will list with you, we will raise with you, we will help you find global market with 550 million fans around the world.” Sometimes it is easier to build a product than to actually build a global marketplace, and PSG has the upper edge with its half billion fans.
Following the announcement PSG token price began to shoot up, and has already gained 7% within a few minutes on Thursday May 29.
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