The organization is the first major professional sports franchise to accept the virtual currency.
The Kings announced Thursday that fans will be able to buy gear from the official team store and pay for tickets with the digital money beginning March 1. Purchases will be processed through BitPay, which accepts the digital dollars and pays the Kings in cash.
Bitcoin users buy digital money and load it onto a virtual wallet. Unlike government-issued money, the value of Bitcoin fluctuates rapidly. At one point Thursday, the value of one Bitcoin was worth nearly $850.
Kings owner Vivek Ranadive said the new payment method is part of his model for "NBA 3.0, which focuses on investments in technology, globalization and deep community partnerships."
October 29, 2014Six months after receiving the approval to begin construction of a downtown arena, the Sacramento Kings and the City of Sacramento have broken ground.
August 1, 2014The first demolition work is underway at the site of the Sacramento Kings' future home.
August 1, 2014The Downtown Plaza garage entrances at 6th and J and 6th and L are now closed as construction begins on the downtown arena.
July 31, 2014People with affiliations to the group Sacramento Taxpayers Opposed to Pork have filed notice they will appeal a judge's decision denying a request for an injunction blocking the downtown arena project.
July 31, 2014Parts of Downtown Plaza will be demolished Friday to make way for the Sacramento Kings arena project.
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