Anyone can sponsor anything, as long as they have the money and they aren’t breaking any laws against defamatory or hateful speech. And that is why we now have a bowl game named after Bitcoin.
Thanks to a deal struck by Bitcoin payments processor BitPay, the game formerly known as The Beef O’Brady’s Bowl shall henceforth be dubbed the Bitcoin St. Petersburg Bowl. BitPay released a statement that reads in part:
“Our goal is to continue to move bitcoin into the mainstream and sponsoring the St. Petersburg Bowl offers us that opportunity,” said Tony Gallippi, Executive Chairman for BitPay. “College football fans and the bitcoin community represent a similar target demographic – tech-savvy men between the ages of 18 and 40.”
Believe it or not, the sketchy online currency used mostly for buying drugs from deep-web marketplaces run by fugitive sex offenders out of their Northern Ontario barns is now sponsoring a bowl game. Because they want to become mainstream.
Will this increase or decrease the value of Bitcoin? Will it do nothing to the value of Bitcoin? Is Bitcoin even really a thing? Is there really a demographic overlap between people who know what Bitcoin is and people who care about the bowl game that up until this year was named after a regional family restaurant chain?
So many questions. I’ll make some popcorn with hash oil-infused butter and muse on it a moment.
— Bitcoin Bowl (@BitcoinBowl) June 18, 2014