New York Yankees players, employees who can now convert salaries to Bitcoin

The investment company NYDIG signed a multi-year partnership with the MLB outfit New York Yankees to let the team’s players convert part of their salary to Bitcoin.

“We are proud to partner with our home team and an iconic sports franchise, the Yankees, to advance our mission to bring bitcoin to everyone,” said Kelly Brewster, Marketing Manager at NYDIG, in a statement.

NYDIG is a Bitcoin-centric subsidiary of asset manager Stone Ridge Holdings Group that offers infrastructure solutions for companies and financial institutions that want to operate within the Bitcoin ecosystem

The company’s products include a Bitcoin Savings Plan (BSP) that allows employees of organizations to convert a certain amount of salary after tax into the leading cryptocurrency. The best thing, according to NYDIG, is that customers do not pay any transaction fees.

“NYDIG is committed to helping our customers realize the full potential of Bitcoin, while offering the service and standards that have made our name synonymous with trust,” Brewster added.

Young people are seeking exposure to Bitcoin

The company’s recent research showed that 36% of employees under 30 would be interested in allocating a portion of their salary to Bitcoin.

Nearly one in three employees who took part in the survey said that if they had to choose between two identical jobs with different employers, they would go for an employer that would offer a Bitcoin alternative.

The price of the leading cryptocurrency has fallen sharply in the last two months after the collapse of the Terra ecosystem and the liquidity crisis facing several prominent crypto companies, including Celsius, Three Arrows and Voyager Digital.

At the time of writing, Bitcoin was trading at $ 20,830, up 4.09% over the last 24 hours, according to CoinMarketCap.

“We’re always looking for innovative ways to expand and enhance our employee experience,” said Aryn Sobo, Yankees Vice President. “NYDIG made it easy to add Bitcoin to our list of benefits, and we look forward to leveraging the NYDIG platform to offer this opportunity to our employees.”

And it’s not just the Yankees players who can now receive part of their salary in crypto.

Drew Brees, a former quarterback at the NFL franchise New Orleans Saints, chose to take part of his salary in Bitcoin through NYDIG’s Bitcoin Savings Plan, in February.

Even New York Mayor Eric Adams got part of his salary turned into Bitcoin and Ethereum. To do so, however, Adams chose Coinbase, the United States’ largest regulated cryptocurrency exchange, to execute the transaction.

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