Bitcoin to Sponsor Indy 500 Driver Veekay?
So how does Bitcoin actually sponsor someone? Bitcoin is not a governed entity, thus no one owns it or governs it per se.....except the market itself. But thanks to some innovative sponsorship marketing professionals, Ed Carpenter Racing driver Rinus Veekay, will be rocking the #21 Chevy 'Bitcoin car' at the Indianapolis 500. In reality, Bitcoin is just the store of value being used to fund the sponsorship, which will come from fans and a crypto settlement technology company called Strike. Companies like Strike, NetCents, and Circle are taking 'the crypto business to the businesses by allowing them to receive bitcoin for their products and services, or in this case, sponsorship, while offering a settlement into fiat currency. This technology removes the volatility from the receiving party and allows everyday businesses to get in on the crypto craze but not necessarily having to go up and down on the elevator of volatility. At HIG, we highly recommend NetCents as a cryptocurrency solutions provider for businesses, as the setup is free, there are no monthly fees for business/merchants, and no contracts. Get started here