In A First, NASCAR Driver To Be Paid Entirely In Cryptocurrency, Including Bitcoin, Litecoin

Landon Cassill will be the first NASCAR driver to receive his entire paycheck in cryptocurrency, including Bitcoin BTC/USD and Litecoin LTC/USD, in a new sponsorship deal with cryptocurrency brokerage platform Voyager Digital Ltd. VYGVF.

What Happened: Voyager, a cryptocurrency brokerage platform, said on Twitter that it has finalized a 19-race deal to sponsor Cassill in NASCAR’s Xfinity Series, starting with this weekend’s race at the Nashville Superspeedway.

Voyager said Cassill will be paid fully in a portfolio of cryptocurrency led by Litecoin LTC/USD and the Voyager Token VGX/USD.

@InvestVoyager partners with @landoncassill to launch the first-ever #crypto @NASCAR sponsorship–paid in @litecoin $LTC & $VGX

“I’m thrilled to be partnering with Voyager – they make it simple for anyone to participate in the crypto market.”

Read now: https://t.co/OKAqKjHUed pic.twitter.com/NBc8ZBUGNJ

— Voyager (@investvoyager) June 17, 2021

See Also: How To Buy Litecoin (LTC)

According to a report by the Associated Press, Cassill said that the payment by Voyager is a “portfolio of digital assets” that includes Litecoin and Bitcoin priced at market rates.

Why It Matters: A race car featuring Dogecoin DOGE/USD will also be seen in the NASCAR Xfinity Series race this weekend. The car driven by Stefan Parsons will have meme cryptocurrency as the primary logo on the car.

The NASCAR event is also an example of how cryptocurrencies are gaining increasing relevance in mainstream circles as an investment option and in day-to-day activities.

It was reported last month that Bitcoin was the main sponsor for Rinus VeeKay’s car at the Indianapolis 500, one of the most iconic sporting events in the U.S.  This year’s event had returned to its traditional Memorial Day weekend slot.

Price Action: Bitcoin is down 3.9% during the last 24 hours and is trading at $37,752.49 at press time. Litecoin traded almost 4% lower at $165.90 over 24 hours leading to press time.

Voyager Digital shares closed 2.6% higher in Thursday’s trading session at $16.30.

See Also: Now Is The Right Time For New Investors To Buy Bitcoin, Says Pantera CEO

Photo by Zach Catanzareti on Flickr