Sunday, December 4, 2022

Crypto Please: America’s Olympic Luge Team Seeks Bitcoin in Funding Bid

Crypto Please: America’s Olympic Luge Team Seeks Bitcoin in Funding Bid

The USA Luge team doesn’t get as much love as some of their Olympic peers, especially when it comes to funding. So the Olympians recently turned to bitcoin donations to help pay for their competition costs. The athletes haven’t raised much yet, but a $25 BTC donation did trickle in after team member Chris Mazdzer won a silver medal on February 11th. 

Also see: Blockchain May Hold Key to Economic Growth in Former Soviet Republics

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USA Luge: Reward Innovation

America’s USA Luge officially began accepting bitcoin donations back in December 2017 as the team made their final preparations for the Pyeongchang 2018 Olympics. At the time, the team noted luge and bitcoin were ideal partners as both knew “all about speed, crashes, risk management, and holding on.”

Managers didn’t expect cryptocurrency to rain from the sky, of course, as “funds historically have been scarce.” But the team was able to raise 0.673 bitcoin — now worth approximately $7,000 USD — as the festivities began in Pyeongchang this year.

The first donation came from Ty Danco, an angel investor and former Olympic luger.

“There’s no doubt in my mind that the luge team needs a whole lot more money,” Danco noted in a new interview. “[My donation’s] just going to sit there and do nothing for at least three years. You know this is a long term bet on the viability of bitcoin.”

$25 Bitcoin Donation Comes in After Silver

A handful of American cryptocurrency fans must’ve been hyped watching U.S. luger Chris Mazdzer win a silver medal in men’s singles on February 11th. Why?

Because shortly after placing in second in his electric run, Mazdzer presumably prompted a flurry of 3 separate bitcoin donations — totaling around $25 when taken together — to USA Luge’s bitcoin address.

Mazdzer, gleeful in victory.

A nice gesture, to be sure. Mazdzer can now brag about bringing in a silver medal and digital gold for the team.

What’s your take? Do you think more projects and teams should adoption bitcoin donation addresses? Sound off in the comments below. 

Images via Popsugar, CNBC

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