Bitcoin

Crypto.com has become the first cryptocurrency platform to secure an exclusive partnership with the UEFA Champions League.
The multiyear partnership, which will see the centralized crypto exchange become an official global sponsor of the UEFA Champions League, was announced on Aug. 14.
Partnering with one of the most popular sports leagues in the world is a significant step for the crypto exchange, said Steven Kalifowitz, chief marketing officer of Crypto.com. He wrote:
<blockquote>
 “We have successfully built the Crypto.com brand and community by producing innovative and groundbreaking moments and events in a way that others have not been able to replicate. Connecting our brand with engaged sports fans around the world has effectively grown our user base to over 100 million in pursuit of our mission of cryptocurrency in every wallet.”
</blockquote>
Large sporting events can bring cryptocurrency awareness to millions of new mainstream adopters, which could introduce newfound capital into the crypto market. Onboarding new mainstream users can significantly increase the future valuation of cryptocurrencies.
<figure>
 <img alt="Crypto.com becomes official UEFA Champions League partner" name="" src="https://s3.cointelegraph.com/uploads/2024-08/UEFAxCDC_STADIUM_1200x728">
 <figcaption style="text-align: center;">
 Crypto.com partners with UEFA. Source: Crypto.com
 
 <hard_break></hard_break>Related: <a href="https://cointelegraph.com/news/bitcoin-at-perfect-macro-setup-but-dip-below-58-k-risks-500-m-in-liquidations" text="null" title="null">Bitcoin at ‘perfect’ macro setup, but dip below K risks 0M in liquidations</a>
 </figcaption>
</figure>
<h2 id="why-mainstream-crypto-adoption-matters">Why mainstream crypto adoption matters</h2>
Following the adoption curve of new technologies like Bitcoin can offer investors insights about its potential valuation.
Bitcoin’s (<a href="https://cointelegraph.com/bitcoin-price" text="null" title="null">BTC</a>) price could reach an “<a href="https://cointelegraph.com/news/bitcoin-price-ultimate-700k-portfolio-allocation" text="null" title="null">ultimate price” of $700,000</a> if the adoption curve surpasses the 16% threshold, according to popular Bitcoin analyst Willy Woo, who <a href="https://x.com/woonomic/status/1818897540344893490" text="null" title="null">wrote</a> in an Aug. 1 X post:
<blockquote>
 “16% is the early majority, 50% is the late majority. Wealth management is somewhere in this sector. So figure out when BTC adoption enters 16%-50% world adoption based on the yellow line.”
</blockquote>
<figure>
 <img alt="Crypto.com becomes official UEFA Champions League partner" name="" src="https://s3.cointelegraph.com/uploads/2024-08/btc%20adoption%20s%20curv">
 <figcaption style="text-align: center;">
 BTC adoption s-curve. Source: Willy Woo/X
 </figcaption>
</figure>
It took Bitcoin over 15 years to be adopted by 4.7% of the world’s population as of Aug. 1. Yet Bitcoin’s adoption rate could see an acceleration if it follows the path of the internet’s adoption, which saw a significant uptick after the first 15 years.
Related: <a href="https://cointelegraph.com/news/us-debt-bitcoin-adoption-hard-money" text="null" title="null">$35T US national debt could bolster Bitcoin’s adoption as ‘hard money’</a>
<h2 id="uefa-partnership-will-accelerate-mainstream-crypto-adoption-crypto-com-cmo">UEFA partnership will accelerate mainstream crypto adoption: Crypto.com CMO</h2>
The crypto platform’s new partnership is another sign of its commitment to “aggressively grow” in its second-largest market, Europe.
The large number of UEFA fans will significantly contribute to overall crypto adoption, according to Kalifowitz, who told Cointelegraph:
<blockquote>
 “UEFA is also the biggest sports league in the world, reaching 3 billion fans worldwide. I have no doubt that adding UEFA to our already world-class portfolio of partners will accelerate the adoption of crypto through Crypto.com.”
</blockquote>
<figure>
 <img alt="Crypto.com becomes official UEFA Champions League partner" name="" src="https://s3.cointelegraph.com/uploads/2024-08/Screenshot%202024-08-14%20142216">
 <figcaption style="text-align: center;">
 Top 13 crypto exchanges by trading volume. Source: CoinMarketCap
 </figcaption>
</figure>
Crypto.com is currently the world’s 13th largest exchange, with a daily trading volume of over $2.7 billion, compared to Binance’s $11.4 billion, which is the world’s largest crypto exchange, according to CoinMarketCap <a href="https://coinmarketcap.com/rankings/exchanges/" text="null" title="null">data</a>.

 <hard_break></hard_break>Magazine: <a href="https://cointelegraph.com/magazine/china-crypto-ban-investors/" text="null" title="null">How Chinese traders and miners get around China’s crypto ban</a>

 <hard_break></hard_break>

Crypto.com becomes official UEFA Champions League partner

Table of Contents

Cointelegraph

Other articles published on Aug 14, 2024

Here’s why Aptos transaction volume surged over 3500%

Avatar.One Helps Over 120K Active Users Battle the Loneliness Epidemic with 3D AI Companions (14 ...

London-Based Capula Investment Reveals $464M in Bitcoin ETFs

Bitcoin Price Drops Below $59,000 Affecting Altcoins

CleanSpark Provides Benefits in Response to Cryptocurrency Exchange Deposit Fee Restrictions

Unstoppable Domains to let farmers accept crypto with new Web3 domain

Join our free newsletter for daily crypto updates!