Indianapolis 500 To Feature Bitcoin Sponsored Car May 30: What You Should Know

The iconic Indianapolis 500 will feature Bitcoin as the main sponsor on one of the cars, and it will likely be a hot topic for media before and during the race.

What Happened: The Ed Carpenter Racing team announced a partnership to feature Bitcoin BTC/USD as the primary paint scheme for Rinus VeeKay’s No. 21 car for the Indianapolis 500, Sportico reports.

“Just as Bitcoin is revolutionizing our financial system, I see it as an opportunity to transform how we operate within our motorsport industry,” Ed Carpenter said in a statement.

ECR will also integrate Bitcoin as a payment option for its employees, making it the first team in circuit history to offer this option.

VeeKay has three top-five and eight top-10 finishes in 18 starts during his second season. VeeKay finished 20th in last year’s Indianapolis 500.

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Why It’s Important: The Indianapolis 500 is one of the most iconic sporting events in the United States. The 2021 event returns to its traditional Memorial Day weekend slot after moving to August in 2020 due to the pandemic.

The race will allow a reduced 40% capacity, which is around 135,000 fans, and be broadcast on NBC, a unit of Comcast Corporation CMCSA on May 30.

Price Action: Bitcoin is trading at $54,241 at the time of writing.