New York Yankees and NYDIG Partnership Enables Bitcoin Purchases
In a statement released on Thursday, July 14, 2022, Bitcoin-centric company NYDIG announced the signing of a multi-year deal with the New York Yankees. The partnership gives employees of the Major League Baseball (MLB) franchise access to NYDIG’s Bitcoin Savings Plan (BSP).
NYDIG’s chief marketing officer Kelly Brewster stated:
We're proud to partner with our hometown team and an iconic sports franchise, the Yankees, to further our mission of bringing Bitcoin to all.
A Bitcoin Savings Plan
NYDG is a platform that provides firms with the infrastructure needed to operate in the Bitcoin ecosystem. Brewster says the platform is committed to helping clients “realize the full potential of Bitcoin while providing the service and standards that have made our name synonymous with trust.”
He added, “For employees of the Yankees and beyond, the opportunity to allocate a small slice of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save Bitcoin, and the dollar-cost averaging can smooth out the bumps along the way.”
The Bitcoin Savings plan allows employees of participating employers to convert a portion of their post-tax salary to Bitcoin with no transaction or storage fees on the NYDIG platform. This, according to NYDIG, is an excellent way for firms to attract and retain the best talent.
Their research found that 36% of employees under 30 are open to allocating a portion of their earnings to Bitcoin. Of these, nearly 1 in 3 said if they were choosing between two identical jobs, they would go for the one that helped them get paid in Bitcoin.
Improving Employee Experience
According to the Yankees vice president Aryn Sobo, the franchise is always looking for innovative ways to expand and improve its employee experience. They partnered with NYDIG because it “made it easy to add Bitcoin to our roster of benefits, and we look forward to leveraging the NYDIG platform to offer this opportunity to our employees.”
The New York Yankees join a long list of companies and institutions partnered with NYDIG to offer a Bitcoin savings plan. The team represents the first MLB franchise to add Bitcoin as a benefit for their employees.