On Wednesday, cryptocurrency payment services company Bitwage announced that Ultimate Fighting Championship (UFC) strawweight Luana Pinheiro will be the first female UFC fighter to be paid in bitcoin. Pinheiro’s boyfriend, a UFC flyweight fighter, started getting paid in bitcoin last March and after his eight-fight winning streak, Pinheiro decided to follow his partner’s decision to get paid in crypto .
UFC Strawweight Luana Pinheiro will be paid in Bitcoin via Bitwage
Ultimate Fighting Championship (UFC) fighters have been getting into crypto assets these days, after UFC heavyweight champion Francis Ngannou announced he would get half of his UFC purse 270 paid in bitcoin. The UFC has also partnered with digital currency exchange Crypto.com and through an agreement with the company, UFC Fight Night bonuses are paid out in bitcoin. On July 27, crypto-payment services company Bitwage announced that UFC fighter strawweight Luana Pinheiro (18-2 record) would be the first UFC fighter to be paid in bitcoin ( BTC).
Bitwage details that because Pinheiro leverages the company’s platform, she doesn’t have to negotiate with mixed martial arts (MMA) company UFC to secure crypto payouts. Pinheiro got the idea from her boyfriend, who is also a UFC fighter in the flyweight division, Matheus Nicolau (18-2 record). Nicolau started getting paid in BTC in March and Bitwage says that makes them “a real UFC power couple on the bitcoin standard.”
“MMA is a brutal sport and there is no time for overthinking. Mental toughness and mindlessness are everything,” Pinheiro explained in a statement sent to Bitcoin.com News. “I don’t think i will have a problem with bitcoin going down or up [in fiat value]. If it weren’t volatile, it wouldn’t increase either. Think about it: it takes an average of 10-15 years for an individual to earn a black belt in Brazilian Jiu Jitsu, so my time preference here is just as long if not longer. Black belt time preference, I call it. Everything else is just noise to me and the lower the price the more bitcoins I can secure for the future.
Bitwage co-founder Jonathan Chester: “Right information at the right time is everything”
According to Bitwage co-founder and CEO Jonathan Chester, the company’s team flew to Rio de Janeiro, Brazil to help Pinheiro get started in person. Chester pointed out that the service is not just for athletes and wealthy individuals, as anyone in the world can choose to use Bitwage’s crypto payment services. “The right information at the right time is essential. Having knowledge and not acting on it is not the reason we acquire knowledge in the first place. We get it so we can act. Chester explained during the announcement on Wednesday. Chester added:
Our goal is to help each individual on their journey. Through education, each individual can choose how they want to be paid, whether it is to their self-checked wallet or their bank account. So, in the end, they don’t need anyone and are truly independent.
Since 2014, Bitwage has offered crypto and stablecoin payroll services, and in 2020 it launched a retirement service with the Gemini exchange. To date, the startup has processed over $150 million in transactions and has 50,000 users and partnerships with 2,000 companies worldwide. Apart from UFC fighters Pinheiro and her boyfriend Nicolau, professional athletes Alex Barrett, Achara Ifunanyachi and Alex Crognale have also opted to get paid in crypto using the Bitwage service.
What do you think of the first female UFC fighter to be paid in bitcoin? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.