UFC heavyweight champion considering taking 50 per cent of his next bout purse in Bitcoin
With the worldwide use of cryptocurrency expanding, an increasing number of celebrities and sportsmen are getting their salary in digital assets such as Bitcoin.
Notably, the UFC heavyweight champion Francis Ngannou disclosed on Twitter on January 14, that he is contemplating collecting 50 percent of his next bout purse in Bitcoin. The Cameroonian, who has his next bout slated for January 22, revealed:
“Been conversing with my family and friends in the crypto area. Bitcoin is booming in Africa, and I’m thinking about taking half my fight purse in it. Bitcoin is the future, and I’m a believer.”
Ngannou in a contract dispute
It’s worth adding that the fighter has lately been in contract discussions with the UFC, but they have been at loggerheads about a new UFC agreement with boxing possibilities. The boxer has declared he “will not fight for $500,000, $600,000 anymore,” whether this has anything to do with Ngannou’s interest in Bitcoin as payment for his bout fee remains to be seen.
The champion did add, “Bitcoin is booming in Africa,” which isn’t an understatement; the African cryptocurrency market surged by over 1,200 percent in value between July 2020 and June 2021, according to a research by Chainalysis. The organization claims that African governments acquired around $105.6 billion in cryptocurrency.
The Ultimate Fighting Championship promotion, in which Ngannou competes under is a famous international mixed martial arts company. In July 2021, the firm announced a sponsorship and a fight-kit relationship with Crypto.com, one of the world’s leading crypto trading platforms by trading volumes.
According to those familiar with the agreement, it’s thought to be valued in the neighborhood of $175 million over 10 years. Interestingly this is not the platform’s first journey into the world of sports recently; we reported the Singapore-based cryptocurrency corporation secured a deal for an estimated $700 million to rename the Staples Center, the home of the Los Angeles Lakers, to the ‘Crypto.com Arena.’