Bitcoin Joins the Indy 500

Indy 500 to Feature the First Bitcoin-Endorsed Racing Car

Bitcoin intends to participate in one of America’s most prominent car races, the Indianapolis 500 today.

Ed Carpenter Racing (ECR), an American racing team based in Speedway, Indiana, will have the No. 21 Bitcoin Chevy,  lined up at the starting point. There will be 32 other automobiles that will take part in the historic Indianapolis Motor Speedway.

The Chevrolet, which is engraved in Bitcoin logos, and comes in a black and orange color scheme, is the first sponsored creation of such kind from the Bitcoin community.

In a statement released in the course of this month, team owner Carpenter revealed how thrilled he was to be able to showcase his personal interest and exclusive engagement in Bitcoin  all at once.

The Bitcoin-sponsored car is one of the most recent examples of how the cryptocurrency world is collaborating with sports.

Just two months ago, Oakland Athletics revealed that they had approved bitcoin as a form of payment for its season suites.

In April, the CEO and chairman of Sacramento Kings, Vivek Ranadivé, told his players and staff that bitcoin would be available as a payment option.

The man behind the Chevrolet’s wheel is Rinus VeeKay, who is a Dutch driver and winner of last year’s Rookie of the Year award.

Speaking in an interview with Autoweek, earlier this month, Carpenter explained that he saw this as a creative opportunity to beat other racing teams and ultimately win the coveted sponsorship money.

To facilitate payments and donations necessary, ECR has teamed up with Strike, which is a payment platform. With a unique QR code, any individual interested in making a donation will be able to do so.

Wondering why the team chose no. 21 to represent Bitcoin’s race car? Well, according to Carpenter, 21 represents the 21 million bitcoin, created by Satoshi Nakamoto when he was launching the cryptocurrency.

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