Wednesday, September 22, 2021
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Dogecoin: Football club promotes cryptocurrency




In the past few weeks, it has remained comparatively quiet about the Dogecoin crypto currency. After cyber money, which was once launched as a gag, increased massively in value in the first half of 2021, it has held up well since then. Thanks to the support of celebrities such as Tesla boss Elon Musk, the virtual taler with the dog breed Shiba Inu in the logo ranks 7th among the world’s most valuable cryptocurrencies. Even if the really big hype is currently taking a breather, the support is unbroken – and could soon start flying high again! The reason: The British soccer team Watford FC is now once again putting Dogecoin in the spotlight. As Business Insider reports, in the Premier League season that started on August 13, 2021, the team’s kickers wear jerseys with the Dogecoin logo on their sleeves.

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Sports betting provider pays for Dogecoin advertising

The reason for this is therefore a sponsorship contract with the sports betting website Stake.com. It is said to have paid around a million US dollars (around 850,000 euros) for Watford FC to appear as an advertising medium not only for their own company, but also for Dogecoin in the coming months. According to the British BBC, the amount was transferred to the football club in proper style in the form of cryptocurrencies. Stake.com itself offers the option of completing sports betting with the use of digital currencies, so it has a legitimate interest in boosting the popularity of Dogecoins.

Watford FC was already promoting Bitcoin




Watford FC is not a blank slate in the field of cryptocurrencies. During the 2019/2020 Premiere League season, the team wore the Bitcoin logo on its jersey on behalf of the sports betting provider Sportsbet.io. on
Twitter
and on its official website, the soccer club is already showing the first pictures of the new Dogecoin jersey in action. The Dogecoin is currently valued at 0.33 US dollars (0.28 euros) and has a market capitalization of over 43 billion US dollars (around 37 billion euros; as of August 17, 2021). It remains to be seen whether the high-profile appearance in the UK’s football stadiums can move the course back towards the all-time high of US $ 0.68.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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