Bitcoin speeds towards race car sponsorship

Bitcoin has achieved many firsts in its short history, a sponsored race car wasn’t on the list, until now.

The 105th running of the Indianapolis 500 featured a Bitcoin sponsored racing car in a world first.

Crossover between sport and cryptocurrency

Renowned Bitcoin podcaster Stephan Livera approves of the Bitcoin race car design but points to a building phenomenon: the crossover between sports, athletes and cryptocurrency.

“I think it’s all about the story, there’s a social element as well. People look at what celebrities and sports stars are doing,”

“I think it’s really cool how they’ve styled the car, and they’ve really gone all out” Livera added.

Because the Bitcoin logo isn’t under any copyright laws, team owner Ed Carpenter was free to go his hardest.

“I really believe that it’s the future of a lot of what our financial system is going to look like” Carpenter said.

Bitcoin car comes 8th in the race

Dutch driver Rinus Veekay looked set for victory but couldn’t find the right track position before coming home in a solid 8th place. 

Could you imagine what a victory for the Bitcoin race car would do to the price?

The BTC logo was everywhere. Veekay’s fire suit was covered as were the uniforms worn by the team’s pit crew.

Also adorning the car was the number 21 to signify the total supply of BTC, being 21 million.

Not your ordinary sponsor

Strike Founder and CEO Jack Mallers was a key player in sponsoring the Bitcoin race car, and his vision offered something outside the traditional sponsor setup.

Mallers could hardly be accused of understatement when he said Carpenter “is racing for human freedom, financial literacy, financial inclusivity, and is using the platform he’s earned throughout his career to promote the most powerful message possible in pushing forward.”

So the biggest car race in America is added to a rapidly growing list combining digital currencies and sports.

Does crypto have a place in racing?

In March, Major League Baseball’s Oakland A’s announced they’ll accept Bitcoin as payment for season suites. This followed the NBA’s Sacramento King’s also allowing players and staff a bitcoin payment option.

NFL stars Tom Brady, Saquon Barkley and Russell Okung have all publicised their interest.

The growth in this space appears only heading in one direction.

Perhaps Carpenter best encapsulated the mood “We want to kiss the bricks, drink the milk, then watch Bitcoin race past $100k!”