August 6, 2021
The Economic Times reported that Indian athletes at the Olympic Games could receive cryptocurrencies as a gift if they manage to win a medal at the tournament in Tokyo.
In order to felicitate winners at the Tokyo Olympics, cryptocurrency exchange Bitbns is looking to award them with Bitcoin SIPs worth lakhs. The exchange will reportedly grant around $2,700 in crypto for gold medal winners, $1,350 for silver medal winners, and $675 for bronze medalists. Bitbns is looking to begin with Mirabai Chanu who won a silver medal in weightlifting, and PV Sindhu for securing a bronze medal in badminton to become the first Indian woman to win two Olympic medals.
It will transfer the amount into their accounts, and after completing the Know Your Customer (KYC) norms, the athletes will have exposure to cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Gaurav Dahake – the Chief Executive Officer at the platform said,”Bitcoin and Ethereum have been the best-performing assets in the last decade, and have given exceptional returns and we aim to get our winners indulge in this rewarding journey.”
Bitbns’ Bitdroplet allows investors to buy Bitcoin or Ethereum coins on a daily, weekly or monthly basis in a systematic way. The product is akin to systematic investment plans in domestic mutual funds.