Companies have been showing their love and support towards the athletes that have won an Olympic medal for India. At the same time, some brands are offering free Pizzas, some are offering money. Recently, a diamond merchant even announced that he is going to help medal winners build a home and get a car as well. But that’s not all, now Indian Olympic medal winners will also get Bitcoins. This gift or prize will be sponsored by the Bitbns platform that is one of the best crypto exchanges in India.
How will this work?
Bitbns said that they are offering a SIP plan for all Olympic medal winners. This SIP plan will be based on BTC and ETH and will be paid by the exchange on behalf of the winners. Do note that the prize amounts vary based on the medal won by the athlete. The exchange is giving Rs 2 lakh for a gold medal, Rs 1 lakh for silver and Rs 50,000 for a bronze medal.
The reason for going with a SIP is to make the most out of investment and take advantage of the huge volatility of both the tokens. The entire amount won by the athlete will be invested in the token in 3-5 years in equal amounts and fixed intervals. And the winners can redeem their amount by completing the KYC. The reason for going with BTC and ETH is their performance in the last decade. No other asset has given a return like they have made them a wonderful investment.
Great news for crypto
This is great for the athletes as they are getting monetary support which becomes really important. At the same time, this gesture by Bitbns is also going to bring crypto to the limelight. People will know more about the exchange and tokens like BTC and ETH that are awarded to the Olympic medalists. It is also a great promotion of the SIP feature that Bitbns has. The more people know about it, the better, as it is one of those options that will save you from losses even during huge market dips as you are never buying at one price.
What are your thoughts on the fact that Indian Olympic medal winners will get Bitcoins? And do you think Bitbns played a great marketing tactic here? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.