Abstract
If Bitcoin hits the $1 million price target by 2030, the $100 investment will turn into $6,070, which represents a gain of 5,970% from now until 2030. The hypothetical investment will have an average annual return of 746.3% if the price target is achieved. (Benzinga, 2022). This current study introduced digital currency, especially bitcoin, as it was the first cryptocurrency created as an e-gold and replaced real gold in the 1990s. After the economic crisis of 2008 in the USA, the door was opened for Bitcoin in 2009 as a cryptocurrency. Still, unlike e-gold, bitcoin is not backed by real gold but by the offer and demand made by the business community. Bitcoin was a real success and made many millionaires, especially in 2013 and 2014 when the value of bitcoin reached its peak. (Silver, 2016). The current study explained the significance of the stock market to sports legislation and the current and future use of digital currency in the field of sports business. This recent descriptive study used a review of the literature and research analysis from different sources, including data, statistics, information, and sport analytics predictions, articles, magazines, editorials, and periodicals to understand the effects of using digital currency, particularly bitcoin, on the rapidly growing and unexpected sports business worldwide. Results indicated that Bitcoin is one of the digital coins but, through the last five years, happened to high improve in value. Moreover, digital currency should be used in sports business transactions to achieve significant financial benefits.
Presenters
Ezzeldin R. AlyAssociate Professor, Health, Physical Education and Recreation, Florida A & M University, Florida, United States
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
KEYWORDS
Digital currency, Sports Marketing, Finance Networking, Trad, Globalization, Bitcoin, Ethereum, Ripple, Litecoin, Cryptocurrency
