By Emre Bilginoglu, Attorney-at-Law, Istanbul, Turkey
Amateur Regional League side Harunustaspor (in the 7th Division of Turkish Football) has signed Faruk Kiroglu, a footballer, during the current transfer window for a fee of 0.0524 Bitcoin (BTC) (around US$520) plus US$530 in cash.
Kiroglu stated that this was the first signing in the world using BTC, the crypto currency, which is having a mixed reaction globally, and that he and the chairman of the club are always open to innovation.
The chairman of the club, Haldun Sehit, declared that this transfer would bring their side the championship. They currently stand in the second position.
The club has made an interesting and innovative move, drawing the attention of the world to this transaction by using BTC for their latest signing.
Although a modest sum, perhaps other clubs will follow their example in the foreseeable future with a more significant amount.
A precedent has been set!
Emre Bilginoglu, who is also admitted to practise Law in the State of New York, USA, may be contacted by e-mail at ‘firstname.lastname@example.org’