The price of Bitcoin had been undergoing massive volatility as regulators around the globe are taking up final stands either in favour of or against the cryptocurrency revolution. But still these price fluctuations can in no way be compared to running on an ice-covered race track at the speed of 90 MPH. Maybe this is why, USA Luge team which has been representing United States in the 2018 Winter Olympics in PyeongChang did not falter to seek out Bitcoin donations.
The team started accepting Bitcoin donations for funding the training and travelling expenses of its athletes participating in the Winter Games held in South Korea. USA Luge revealed in a Medium post titled “USA Luge Team Running on Bitcoin,” released in December that there exists a large number of similarities in between “lugers” and Bitcoin investors since “both know all about speed, crashes, risk management, and holding on. Which is maybe why the US Luge Team and Bitcoin are made for each other.”
Gordy Sheer, managing director at USA Luge and a silver medallist in 1998 luge doubles, revealed through a statement made in December that:
“We’ve looked at bitcoin hard, and it is definitely a risk-reward we understand and are eager to take.”
The team has promised to introduce luge team hats containing Bitcoin logo if they manage to attain their fundraising goals in the form of Bitcoin donations.
The team has already received bitcoin donations worth a whopping $6200. But it still has a long way to go until it reaches its goal of $50000 or Five Bitcoins for which it has sought out help from its supporters. Former Olympian luge competitor Ty Danco who has also made substantial bitcoin donations to the team feel that USA Luge “is not thinking short term.”
He added that the team might hold on to its bitcoin donations during the 2022 and 2026 Winter Games for betting on its long-run viability.
With South Korean and European regulators slowly opening up to Bitcoin and softening in regards to its regulations, Bitcoin’s price has surged over the $9000 mark this week and crossed the crucial $10,000 level yesterday. USA Luge might be way behind in its Bitcoin donations fundraising goal, but the delightful win of Chris Mazdzer in first men’s singles luge medal (a silver) in the U.S. Olympic history is surely giving them a reason to celebrate. U.S had won bronze four years back in the women’s singles luge.
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