European football giants Paris Saint-Germain (PSG) announced that the club has adopted a Bitcoin reserve. The announcement was made today at the Bitcoin 2025 conference in Las Vegas. This makes PSG the first-ever football club or sports entity to adopt a Bitcoin treasury reserve. It also reflects on BeinCrypto’s earlier report that institutions and businesses across every industry are buying BTC.
PSG is currently the champion of the French domestic Ligue 1 and will play in the UEFA Champions League final next week in Munich.
“Last year, we actually put Bitcoin in our books. So, we took our Fiat reserve, and we actually allocated Bitcoin, we still have it in our books, and as one of the largest clubs in the world, we are the largest player in the sports ecosystem to do that,” said the head of PSG Labs, Par Helgosson.
The club’s spokesperson emphasized that almost 80% of its 500 million fan base is below the age of 34. So, the club and its stakeholders are keen to adopt the ‘new generation’ financial trend.
Earlier this week, the publicly listed US company, GameStop, announced its major Bitcoin purchase, becoming the 13th largest corporate holder.
With institutional adoption reaching unprecedented milestones this month, Bitcoin reached an all-time high of $111,800 last week. However, BTC has dropped over 5% since then as whales take profit.
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