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El Salvador and Botev Plovdiv join forces in pioneering Bitcoin financial venture
- The tokenized shares available through Bitfinex Securities aim to democratize ownership, allowing fans around the world to invest in the football club.
- Beyond financing, Botev Plovdiv is adopting Bitcoin for ticket and merchandise sales, integrating the cryptocurrency into all club operations.
El Salvador has become the new financial hub for a European project involving Bitcoin, as Bulgaria’s oldest football club, Botev Plovdiv, announced plans to issue its token shares from the Central American country.
Botev Plovdiv’s financial shift towards tokenized stocks
George Manolov, head of Bitcoin strategy for Botev Plovdiv, revealed that the football club had established a financial entity in El Salvador. This entity will issue shares or tokenized tokens as funding methodallowing creditors to become co-owners of the sporting entity.
This venture aligns with El Salvador’s pioneering legal adoption of Bitcoin, providing foreign entities like Botev Plovdiv with considerable tax flexibility for Bitcoin holdings.
Token issuance and global participation
The tokenized shares will be issued on the Bitcoin Liquid Network and will be available for purchase through the Bitfinex Securities platform, which has experience managing tokenized shares in El Salvador. Manolov highlighted the intention behind this decision, stating:
“We are here because we want to issue tokens from El Salvador to accumulate BTC, but also to allow our fans around the world and anyone interested to be part of the process of becoming a recognized European club.”
Manolov also highlighted the collaboration with Bitfinex Securities aimed at “democratizing shares,” noting that the investment threshold would be very low, allowing virtually anyone to become a co-owner of the club.
Beyond tokenized actions: adoption of Bitcoin in club operations
Botev Plovdiv adoption of Bitcoin extends beyond financial instruments. The club allowed its fans to pay for their tickets and merchandise using digital currency. In addition, it introduced incentives for the use of Bitcoin and installed ATMs for purchasing the cryptocurrency.
Since officially adopting Bitcoin last year, the club has expressed its intention to use BTC to internationalize its brand, attract investment and regain its stature in European football.
A global Bitcoin strategy
“We like to say that we have a 360-degree strategy to become a Bitcoin club, which means that we are gradually integrating BTC at every level imaginable.” » added Manolov. This approach reflects a comprehensive plan to integrate Bitcoin into club operations on all fronts.
This historic milestone for Botev Plovdiv showcases the transformative potential of Bitcoin in the world of sports, opening a new chapter in how sports clubs can raise funds, interact with fans and manage their finances.
El Salvador’s role as facilitator in this area pioneering financial experience highlights its commitment to being at the forefront of cryptocurrency adoption.