'Bitcoin Bowl' raises eyebrows - FOX 13 News

'Bitcoin Bowl' raises eyebrows

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TAMPA (FOX 13) -

Bitcoin is going bowling.

"It legitimizes us, takes us to the next level," said Brett Dulaney, executive director of the Bitcoin Bowl St. Petersburg.

Come December 26th, teams from the ACC and AAC will square off inside the Trop at the Bitcoin Bowl St. Petersburg, formerly the Beef 'O Brady's Bowl.

Bitpay, one of the largest payment processing companies of bitcoins, bought the rights to the game.

"They're Georgia Tech grads…they wanted to see which were affiliated with ACC. They called us; the rest is history," Dulaney said.

To many out there, Bitcoins still remain a mystery. They're a digital currency that some tout as better than credit cards, but they've developed a shady reputation.

For example, a couple of years ago, the FBI alleged Bitcoins were being used to buy illegal drugs online on websites like Silk Road.

Money laundering is another concern associated with Bitcoins.

There's enough of a stigma out there leading some to ask, is Bitcoin the right fit for a college bowl game?

"I think that, if anything, people will have a chance to evaluate what it is again," said Matt Branton.

Branton's company Coinlock helps businesses embrace Bitcoins. He says the currency shouldn't be feared.

"The fact that there's corporate backing behind it now and hundreds of millions pushed into Bitcoin really gives it legitimacy," he said.

Terms of the deal aren't known, but this is considered the first major sports deal involving Bitcoin out there.

 

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