Turkish club becomes first team to fund transfer using Bitcoin

The club used the cryptocurrency to sign Omer Faruk Kiroglu for 0.0524 BTC (£386), plus 2,500 Turkish Lira (£467)

Turkish football side Harunustapor made history when they completed a transfer using cryptocurrency Bitcoin.

The club used the bitcoin to sign Omer Faruk Kiroglu for 0.0524 BTC (£386), plus 2,500 Turkish Lira (£467) - making the total deal worth 4,500 Turkish Lira (approximately £850).

According to NTV Spor, Club president Haldun Sehit announced the deal.



"We did this to make a name for ourselves in the country and the world. This is a first for Turkey and the world in the transfer market," Sehit was quoted saying in an interview with NTV Spor.

"Our name is being mentioned on television as if we are a professional club. We are proud of this."

The player showed off the phone used for the transaction while speaking about the innovative manner in which the transaction was finalised.



"It is a first for myself, a first in the world. It is an honour and as the boss said it is innovative," Kiroglu was quoted as saying.

Created in 2009, Bitcoin has caused quite an uproar in the virtual currency domain with its price increasing 17 fold last year. Recently, the cryptocurrency has seen a slump in the first month of the new year with the price falling below $10,000.



This article originally appeared in Bleacher Report.