“Both know all about speed, crashes, risk management, and holding on. Which is maybe why the US Luge Team and Bitcoin are made for each other…”
As many college athletes know all too well, funding for more niche sports like – for example – luge is often lacking, and securing more often requires hours of fundraising by the team’s boosters.
Which is why, ahead of the Winter Games in PyeongChang, some teams started getting creative. For instance, fundraisers for the US luge team have started accepting donations in bitcoin. Indeed, the team has raised several thousand dollars worth of bitcoin.
The team is hoping crypto donations will eventually comprise a substantial portion of its funding, according to Bloomberg.
“Both know all about speed, crashes, risk management, and holding on. Which is maybe why the US Luge Team and Bitcoin are made for each other,” the team wrote on its website, which features images of athletes lying on top of a flat sled speeding down a curvy ice track. “Funds historically have been scarce, but the sport of luge has always been one to reward innovation and technology.”
Ty Danco, a former 1980 luge Olympian and now an angel investor, pushed the idea for accepting bitcoin. He eventually became the first to make a donation to the team in crypto.
“There’s no doubt in my mind that the luge team needs a whole lot more money,” Danco said.