Houston Rockets Teams With NYDIG In Bitcoin Partnership

National Basketball Association team Houston Rockets has partnered with cryptocurrency asset manager New York Digital Investment Group (NYDIG).

What Happened: NYDIG will serve as the Houston Rocket's official Bitcoin services partners and Bitcoin platform and the two parties will jointly develop educational content and community initiatives, according to a Tuesday announcement.

"From basketball operations to business development, our organization has leaned on advancements in technology to remain on the cutting edge," said Rockets President of Business Operations Gretchen Sheirr. "Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates."

Furthermore, NYDIG branding will be featured on the Houston Rocket's digital and social media presence as well as its Toyota Center arena. The asset manager will also appear on the team's courtside apron and the firm will have first naming rights for the arena’s suites level, which will be named the “Bitcoin Suites by NYDIG.”

NYDIG will also be the custodian for Houston Rocket's Bitcoin and power “a range of cryptocurrency services" that have not been specified as of yet.

BTC Price Action: As of press time, Bitcoin is trading at $60,316.10 after seeing its price decrease by over 5.4% over the last 24 hours.