Bitcoin in Sports Update

Hello everyone,

As part of my promise to the community, I intend to be as transparent as possible regarding our developments or lack thereof without compromising sources or methods. This update is the definition of good and bad. I have split this into good news and bad news, followed by my final thoughts at the end.

Good news: I have some very positive news to report. We have continued to network with key stakeholders across the American sports industry, and we are being received incredibly well. We are engaging with executives who have no clue what Bitcoin is, yet they are still interested in working with us.

More importantly, we are finally providing the warning that the sporting world needs: a Bitcoin-only philosophy is the only way to safely market this space. Every other digital asset is a direct threat to existing sponsorship categories. Sports organizations have spent decades building relationships with banks and insurance companies. You cannot, in good faith, advertise crypto scams next to a legacy bank billboard without violating those long-standing arrangements.

Bitcoin is the only asset that can create its own brand-new category. Within the first few minutes of our introductions, we explain the risks of associating with anything outside of Bitcoin. We make it clear that by courting "crypto," they alienate the Bitcoin-only community, which is the most valuable and loyal demographic in this entire space. This education is working. We are actively forcing these conversations across the sports world, and it’s paving the way for an entirely Bitcoin-only future sooner than you think.

Bad news: To be brief, the industry is really struggling at the moment. While there is a ton of interest in sports, the current bear market has made it difficult for companies to commit to long-term deals. I think we are underestimating the level of financial strain hitting even the most well-known Bitcoin companies right now. You can feel it firsthand; things are tight, uncertainty is high, and risk appetite is low. We likely have more turbulence ahead, and I expect this year to be a tough one.

All in all, this is the best time ever to start a new Bitcoin business. Sure, we are struggling to get companies to commit to sports right now, but Rome wasn’t built in a day. The important thing is building these relationships and setting the foundation so the industry is ready to engage when the sector is back to being cash-flush.

I’ve had to admit to myself that I’ve failed so far in securing an activation before the summer. Timing just didn't work out, and in that, I'll do better for you all. Building now, while we are down from the all-time highs, is the right thing to do. Mainstream adoption doesn't come from Wall Street; it comes from Main Street, and Main Street loves sports. I am fully committed to this, and I’m putting my head down to get back to work for this fall. Bitcoin is going to take over sports, and we are going to be the ones to make it happen.