Bitcoin will be used to pay athletes for the Perth Heat baseball club

The Perth Heat, a baseball franchise in Australia, will pay its players in Bitcoin.

The Perth Heat, a baseball franchise in Australia, will pay its players in Bitcoin for the first time. An entire sports team has never before been paid entirely with cryptocurrency. The Perth Heat is one of Australia’s largest sporting organizations and will use Bitcoin for all player salaries starting next season.

According to the club’s president, Kevin Donoghue, he is confident they will have no trouble submitting taxes since they are a “private company,” but the Australian Taxation Office has not yet received their tax return, so it can’t speak to their financial status.

The news comes as Bitcoin is becoming increasingly popular among elite athletes.

The Perth Heat, an Australian baseball club, has announced a collaboration with OpenNode, a Bitcoin payment processor, to accept and process Bitcoin payments. The arrangement enables the Perth Heat to pay its top players and staff in bitcoin.

This year, the Australian continent has stepped up efforts to allow legal crypto usage. On Oct. 20, an Australian Senate committee called for a sweeping overhaul of cryptocurrency legislation and licensing.

According to a recent poll done by Crypto.com, Australian citizens are equally interested in crypto investments. 26 percent of the polled 2,020 Australians between the ages of 18 and 59 said they would consider giving cryptocurrency for Christmas or purchasing crypto-related presents.

“Australians appear to be very interested in cryptocurrencies and want them to become a part of their everyday spending,” says Karl Mohan, general manager of Crypto.com.

Perth Heat has created a new cryptocurrency to make payments to players and staff. This is the first time an Australian sports team will use Bitcoin as their currency for transactions. The Lightning Network can process thousands of transactions per second, which makes it easier than ever before to send money around the world at low cost. It’s clear that many Australians are eager to embrace this type of technology, from those who sell items online using crypto-payments like Bitcoin or Litecoin, or those who want to invest in digital currencies themselves!

Crypto Tax Calculator Australia has been created to help Australian crypto traders and accountants with their tax needs. The application is hassle free and quick, making it a valuable tool for those looking to correctly report their cryptocurrency transactions.  Cryptocurrency taxation can be confusing, but Crypto Tax Calculator Australia takes the guesswork out of the process. Contact us today to learn more about how we can help you!