Bitcoin’s price is flirting with the $17,000 US mark, reaching its highest highs since December 2017. Do you have any Bitcoin in your sports betting account? If not, don’t worry. It’s not too late to get in the game. Here’s some food for thought if you’re kicking yourself for missing out on some serious gains over the past year.
Big Companies Are Continuing to Bet Big on Bitcoin
Big companies with a lot of cash to burn are betting big on Bitcoin. BitcoinTreasuries.org lists companies that have made huge investments dating back to 2015. If you take a closer look, you’ll notice that many of those substantial investments in Bitcoin have come in 2020.
Grayscale Bitcoin Trust leads the way with over $8 billion worth of Bitcoin in its coffers at the time of this writing. That’s more than two percent of all the bitcoins that exist!
Even companies whose business model has nothing to do with gambling or Bitcoin are practically betting the house on it. MicroStrategy Inc. is a publicly traded business consulting firm that owns no fewer than 38,250 bitcoins. Other major purchases of Bitcoin on record include Jack Dorsey, CEO of Twitter and Square inc., purchasing $50 million worth of Bitcoin on behalf of the latter company.
Other major investments include purchases totaling $134 million by a company called Stone Ridge Holdings, and other purchases totaling $169 million by a Canadian company called 3iQ.
Why the Price of Bitcoin Will Continue to Skyrocket in 2021 and Beyond
Even if you’re really into betting with Bitcoin, odds are you may not be that knowledgeable regarding trading action. But there is one key signal to pay attention to. Large volumes of Bitcoin purchases at around the $14,900 level are likely going to hold Bitcoin above that price for the near and distant future.
All you need to know about the significance of that is that it’s very unlikely for bitcoins in your sports betting account to be worth any less than that for quite some time.
Why You Should Hold Bitcoin in Your Sports Betting Account
Gambling with Bitcoin got a whole lot more convenient in 2020. That’s not just because more and more casino operators are launching cryptocurrency-friendly betting sites. It’s also because one of the largest payment providers in the world is officially allowing Americans to buy cryptocurrency through its gateway. That payment provider would be PayPal. Why is that significant?
It wasn’t too long ago that trying to put money into an offshore sports betting account involved a ton of mental gymnastics. Your credit card company wouldn’t allow it, or they would charge you a cash equivalence fee to use your card on a betting site.
Other third-party wallets like Neteller have come and gone, and as much as gambling is being legalized state by state across America, it’s still illegal in much of the world. Even PayPal wouldn’t let you transfer any of your own money to a gambling site for the longest time.
Ironically enough, now that PayPal is going to open up cryptocurrency purchases to over 26 million merchants and their millions and millions of users, you’ll be able to buy crypto more conveniently and you won’t have to hide your sports betting desires. Your bankroll is yours and yours alone.
The Best Ways to Get Bitcoin on Your Sports Betting Account
Now is definitely the time to start stacking up Bitcoin in your bankroll. Even if all you do is break even on your sports wagers, your cryptocurrency will be worth more than it is now in the long run anyway.
The fastest way to get your hands on some Bitcoin is to use your credit card to make an instant purchase with a well-established cryptocurrency exchange like Coinbase.com, or use your PayPal account as soon as PayPal enables you to do so as that option is rolled out.
You can also do a simple Google search for some of the top cryptocurrency exchanges in the world. Outside of Coinbase.com, Binance and Kraken are two of the most popular cryptocurrency exchanges serving customers today.
Once you’ve made your purchase, you can send your cryptocurrency to any sports betting operator that accepts Bitcoin, including Bodog, Bovada, Intertops, 5Dimes and other competitors. Many of the top Bitcoin gambling sites on the market offer welcome deposit bonuses of 100 percent or more on a first deposit.
Now get in on the action and start doubling up that Bitcoin.
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Odds Shark Staff Fri, Apr 29, 3:00pmBitcoin