UFC fighter will receive full pay in Bitcoin, shrugs off cryptocurrency market volatility

Ultimate Fighting Championship (UFC) fighter Luana Pinheiro announced that she has partnered with Bitwage to receive her salary in Bitcoin (BTC). Pinheiro said she continues to receive fiat payments from her sponsors, but converts them to BTC immediately through Bitwage.

Pinheiro is currently ranked 15th in his UFC division and has won eight games in a row. The fighter said she chose to receive her salary in Bitcoin after her boyfriend and other mixed martial arts athlete Matheus Nicolau encouraged her.

By comparing Bitcoin to her fighting style, jiu-jitsu, Pinheiro emphasized that she prefers to get paid in BTC and that she does not care about the volatility of the cryptocurrency. According to her, volatility is the key factor driving up value.

“If it were not volatile, it would not go up either,” she said, explaining:

“Think about it: it takes an average of 10-15 years for a person to get a black belt in Brazil in Jiu Jitsu, so my time preference here is just as long, if not longer. Everything else is just noise for me, and the lower price, the more Bitcoin I can secure for the future. “

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The Brazilian also revealed that for her, Bitcoin acts as a hedge against inflation, since over the years the purchasing power of fiat currencies has deteriorated with inflation, while BTC, despite its corrective movements, continues in an upward trend.

“Do not forget that I am from Brazil, so I know a thing or two about inflation and its effects. I was born around 1994, around the time the Brazilian currency Real was introduced and linked 1: 1 to the US dollar at that time. It is now 5 BRL for 1 USD. “Bitcoin is for that, to protect against inflation,” she said.

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In addition to Nicolau and Pinheiro, professional footballers Alex Barrett, Achara Ifunanyachi and Alex Crognale also receive their earnings in Bitcoin.

The UFC has entered into several partnerships with crypto companies. In April, the UFC merged with the crypto exchange Crypto.com, making it possible for fighter jets to receive their fan bonuses in BTC. The fan bonus is paid by Crypto.com to the top three fighters in upcoming pay-per-view events.

Separately, in June, the UFC entered into a multi-year marketing partnership with the blockchain logistics company VeChain Foundation worth $ 100 million.