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El Salvador and Botev Plovdiv Partner to Open Pioneering Financial Venture with Bitcoin
- The tokenized shares available through Bitfinex Securities aim to democratize ownership, allowing fans around the world to invest in the football club.
- In addition to financing, Botev Plovdiv adopts 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, announces plans to issue its tokenized shares from the Central American nation.
Botev Plovdiv’s financial move to tokenized shares
George Manolov, Bitcoin Strategy Leader at Botev Plovdiv, revealed that the football club has created a financial entity in El Salvador. This entity will issue shares or tokenized tokens as a financing methodsallowing creditors to become co-owners of the sports entity.
This feat aligns with El Salvador’s pioneering legal adoption of Bitcoin, offering foreign entities like Botev Plovdiv significant 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 via the Bitfinex Securities platform, which has experience managing tokenized shares in El Salvador. Manolov emphasized the intent behind this move, stating:
“We are here because we want to issue tokens from El Salvador to accumulate BTC, but also to allow our fans globally 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 stocks,” stressing that the investment threshold would be very low, allowing virtually anyone to become a co-owner of the club.
Beyond tokenized shares: Bitcoin adoption in club operations
Botev Plovdiv Bitcoin adoption it goes beyond financial instruments. The club allowed its fans to pay for tickets and merchandise using digital currency. Furthermore, it introduced incentives for using Bitcoin and installed ATMs for purchasing the cryptocurrency.
Since formally 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 complete Bitcoin strategy
“We like to say we have a 360-degree strategy to become a Bitcoin club, meaning we are gradually integrating BTC at every level imaginable.” – added Manolov. This approach reflects a comprehensive plan to weave Bitcoin into the club’s 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, engage with fans and manage their finances.
El Salvador’s role as a facilitator in this pioneering financial experiment underlines its commitment to being at the forefront of cryptocurrency adoption.