Crypto Becomes Increasingly Popular As Brazilian UFC Fighter Promotes Bitcoin

Brazilian UFC fighter Renato Moicano clinched victory in a UFC 300 bout on April 13th, 2024, delivering a memorable speech. More interestingly though, Moicano expressed his desire for his $300,000 bonus to be paid in Bitcoin (BTC), should he win it. Taking to X (formerly Twitter),the request stirred interest among cryptocurrency market participants and enthusiasts.

A Need To Self-Educate

Regardless of the request though, Max Holloway ended up securing the $300K Performance of the Night bonus following an impressive win against Justin Gaethje. Despite missing out on the bonus, Renato Moicano displayed sportsmanship, stating that Max was well deserving of the prize.

Max went on to say that he loves America, the Constitution, the First Amendment, and owning property, before telling his fans that if they truly care about their country and financial wellbeing, they must read Ludwig Von Mises and the Six Lessons of the Austrian Economic School. The reference to Ludwig Von Mises and the Austrian Economic School stems via the book titled Economic Policy: Thoughts for Today and Tomorrow, by Mises.

Looking Ahead

Notably, Bitcoin embodies many Austrian Economic principles applied to the concept of money. The insights by Mises into inflation and its detrimental impacts on global economies highlight the significance of Bitcoin as a financial tool capable of addressing such issues while simultaneously serving as an inflation hedge.

Despite Satoshi Nakamoto originally designing Bitcoin to be a P2P electronic cash system, BTC encounters challenges as a medium of exchange. For instance, average network fees have surged to levels comparable to the global average daily income, as reported by Finbold.

Yet, Bitcoin enthusiasts like Renato Moicano persist in utilizing BTC as money, keeping the vision alive. The question arises whether the UFC will indeed entertain payments using the leading cryptocurrency in the near future.