PSG Buys Cryptocurrency: Bitcoin Now Owned by Paris Saint-Germain Football Club
Paris Saint-Germain (PSG), one of the world's most renowned football clubs, has made a significant move by adding Bitcoin to its balance sheet. This groundbreaking announcement was made by Pär Helgosson, head of PSG Labs, at the Bitcoin conference in Las Vegas, organised by BTC Inc.
The conference, attended by various individuals and organisations involved in the Bitcoin industry, also saw big announcements from other participants. Notably, Pakistan was planning to build a strategic Bitcoin reserve at the same event.
The exact number of Bitcoins purchased by PSG and the price at which they were acquired remain undisclosed. However, it is clear that PSG is the biggest player in the sports ecosystem to have Bitcoin on its balance sheet.
The primary driver behind PSG's Bitcoin adoption appears to be strategic treasury management. PSG has publicly committed to Bitcoin as a core treasury asset amid wider institutional adoption trends that include regulatory clarity, product innovation, and corporate treasury strategies. Additionally, PSG's partnership with cryptocurrency platform Crypto.com supports their engagement with digital assets and blockchain-based fan tokens.
Tristan, the editor-in-chief at Blocktrainer.de, has been actively involved with Bitcoin since 2020. Before his involvement with Bitcoin, Tristan had an interest in libertarian economic theory. His articles can be found on Blocktrainer.de.
It is worth noting that QSI, through its subsidiary Qatar Sports Investments (QSI), has been the majority owner of PSG since 2011. Given the growing interest in Bitcoin in the Arab world, as demonstrated by Mubadala Investment's Bitcoin purchase, it is likely that QSI was involved in the Bitcoin investment by PSG.
The move by PSG indicates that the asset class is moving into the mainstream. With PSG playing in the Champions League final tomorrow against Inter Milan, this news is sure to create a buzz in the football and Bitcoin communities alike.
The possibility exists that other football clubs may adopt the investment strategy of PSG in the future. As institutional adoption of Bitcoin continues to grow, it will be interesting to see how this trend unfolds in the sports world.
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