I think the BTC market needs to mature until something like this is possible.
Let´s imagine that Chelsea is buying a player for the BTC equivalent of 60M GBP.
They wouldn´t even be able to acquire 60M in BTC without huge losses due to slippage.
If they would make an OTC deal, they can also expect to get a rate that is worse than the
spot price.
Additionally, UK banks are not particularly fond of cryptocurrencies and I assume
that most Premier League clubs also use English banks. This might change in the future,
but right now I regard this as a pipe dream.
Let´s imagine that Chelsea is buying a player for the BTC equivalent of 60M GBP.
They wouldn´t even be able to acquire 60M in BTC without huge losses due to slippage.
If they would make an OTC deal, they can also expect to get a rate that is worse than the
spot price.
Additionally, UK banks are not particularly fond of cryptocurrencies and I assume
that most Premier League clubs also use English banks. This might change in the future,
but right now I regard this as a pipe dream.
The whole thing sounds rather silly and doomed to me but you can't get much more high profile than clubs of that level.
You're right though. They'll be up to their tits in conventional finance and investors. I presume they'll slowly shelve the idea, not that they were actually all that interested in the first place. I presume they were being polite to get that money out of Etoro.
