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New York Yankees employees can get partially paid in Bitcoin with NYDIG partnership
As part of NYDIG's Bitcoin Savings Plan, Yankees employees can convert part of their salary to Bitcoin with no fees.
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Updated: Jul. 14, 2022 at 8:45 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin (BTC) investment firm NYDIG announced a multi-year partnership with the American baseball team, the New York Yankees, on July 14 to become the team’s official Bitcoin Payroll Platform.
The deal will allow the Yankees employees to convert a portion of their paycheck to Bitcoin as part of the Bitcoin Savings Plan (BSP), NYDIG’s workplace benefits package. As part of BSP, Yankees employees do not need to pay any transaction or storage fees.
According to NYDIG research, 36% of employees under the age of 30 are interested in receiving a part of their earnings in Bitcoin, the press release said. The research also found that when choosing between identical jobs, around 1 in 3 of these employees would rather work for a company that helps them get paid in Bitcoin, the press release added.
Kelly Brewster, chief marketing officer at NYDIG, said in the statement:
“For employees of the Yankees and beyond, the opportunity to allocate a small slice of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save bitcoin, and the dollar-cost averaging can smooth out the bumps along the way.
Meanwhile, the price of Bitcoin has recovered above $20,000 after the dip on July 13 following the news of U.S. inflation reaching a 40-year-high of 9.1%.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.