New York Yankees employees can now convert their salaries into Bitcoin

New York Yankees, Major League Baseball’s most successful team in history, has taken a major step into the world of cryptocurrency with a partnership that allows the club’s employees to convert portions of their salary into Bitcoin (BTC/USD).

The club announced this on Thursday, noting that the deal will work via a collaboration with bitcoin firm NYDIG.

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“We’re proud to partner with our hometown team and an iconic sports franchise, the Yankees, to further our mission of bringing bitcoin to all,” said Kelly Brewster, chief marketing officer at NYDIG.

Aryn Sobo, Yankees Vice President, Human Resources, Employment & Labor Law said the partnership is part of the company’s search for ways to tap into technological innovation to improve its employee experience. He added:

NYDIG made it easy to add Bitcoin to our roster of benefits, and we look forward to leveraging the NYDIG platform to offer this opportunity to our employees.”

An efficient way to save Bitcoin

Even as the crypto market navigates a crypto winter that’s crashed crypto prices, the New York Yankees has underscored the cryptocurrency’s continued growth as a cog in everyday life by scoring a multi-year partnership NYDIG.

As such, NYDIG is now the MLB team’s Official Bitcoin Payroll Platform, with the franchise’s employees now able to benefit from the Bitcoin Savings Plan (BSP) offered by the bitcoin-focused firm.

Commenting on the growing demand for BSPs, Brewster added:

For employees of the Yankees and beyond, the opportunity to allocate a small slice of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save bitcoin, and the dollar-cost averaging can smooth out the bumps along the way. We commend the Yankees for understanding the competitive opportunities and the value of providing bitcoin options for their organization.”

With BSP employees will have the option to convert part of the paycheck into BTC and enjoy secure custody at no fees.

The deal also comes as more people across the employment industry look towards Bitcoin, including in decisions by prospective employees on whether to take up a position or not. Often, most people favour those employers that offer bitcoin salary options.