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San Francisco, United States, March 22, 2022 (GLOBE NEWSWIRE) —

The #8-ranked UFC flyweight fighter Matheus Nicolau penned a deal to obtain his future combat earnings in bitcoin by the payroll service, Bitwage, on March twenty first, 2022. Nicolau is the primary Latin American UFC athlete to take a paycheck in bitcoin.

“I’m thrilled to be receiving my earnings in bitcoin,” Nicolau acknowledged. “As an athlete, I work onerous to earn a dwelling for myself, however with rising inflation I fear that this tough work goes to waste. Through the use of Bitwage to earn bitcoin, I do know that I’m securing the worth of my work.”

Nicolau, a Brazilian native of Belo Horizonte, has come to grasp the significance of Bitcoin, whereas the market has seen explosive progress over the previous two years in South America attributable to financial burdens like inflation.

“We’re very bullish on Bitcoin,” Nicolau’s supervisor Vinícius Las Casas commented, “and we want to unfold the Bitcoin gospel with this newest deal.” Alongside the Brazilian fighter, his supervisor may even be utilizing Bitwage to obtain a portion of his wages in bitcoin.

Bitwage is the world’s largest payroll, invoicing, and advantages firm within the Bitcoin area. Its providers permit each people and firms around the globe to obtain their month-to-month wages in bitcoin. Bitwage is pioneering the payroll trade with its bitcoin 401k and lightning payroll merchandise.

“Working with Matheus has been a rewarding expertise for us,” stated Bitwage CEO Jonathan Chester. “He’s an incredible fighter with a champion mentality.”

Nicolau is among the many newest in a pattern {of professional} athletes pioneering bitcoin offers: skilled soccer gamers Achara Ifunanyachi and Alex Crognale made related monetary strikes in 2021 with Bitwage.

MMA fighters on the whole, and even a few of the internationally acknowledged superstars within the UFC, are paid in lump sums solely after their occasions, a lot of their pay being contingent on a profitable efficiency and efficiency bonuses. Many fighters are pressured to tackle additional jobs outdoors of their rigorous and time-consuming coaching regimens simply to afford to pay their teaching and restoration groups.

The UFC, specifically, is infamous for undervaluing a few of its highest pay-per-view incomes fighters, with a few of its most adorned fighters merely strolling away from the group, or in search of and taking up high-paying crossover combat alternatives in boxing. Via Bitwage, fighters like Nicolau can receives a commission in bitcoin with out the UFC being onboarded to the service. They will concentrate on coaching, whereas understanding their financial savings are safe in bitcoin.

Bitwage’s providers can be found to the broader market as properly. Right here’s the way it works: You register with Bitwage and obtain a checking account quantity. Subsequent, you select what share of your paycheck you wish to obtain in bitcoin, and you then give the brand new account quantity to your employer. As soon as they ship the paycheck, you’ll obtain bitcoin in an handle that you just management. Should you didn’t allocate 100% of your wage into bitcoin in a given pay interval, you’ll obtain the remainder of the cash in your common checking account. That is precisely how Matheus shall be receiving his future funds from the UFC.

“Matheus represents our exponential progress pattern in Latin America, with folks opting to receives a commission in bitcoin with a purpose to protect their hard-earned cash,” Chester acknowledged.

For Nicolau, and different MMA fighters who perceive the worth of onerous cash, and a sound retailer of worth, Bitcoin is the answer. Bitcoin will protect their irregular earnings over time when custodied appropriately. It permits fighters to alleviate future profession uncertainty, by offering them with an appreciating sovereign wealth fund.

Nicolau is at the moment having fun with a four-fight win streak within the UFC. This deal comes solely days earlier than Nicolau’s combat on March twenty sixth in opposition to David Dvorak in Columbus, Ohio. Win, lose, or draw, his earnings shall be instantly processed by Bitwage and transformed into bitcoin.

Nicolau explains, “I make my cash the onerous method. I bleed for it. MMA is an intense sport that you just put every part you’ve got into. Whereas I always combat on one hand, I’ve a sense I’m always shedding cash on the opposite. Then it hit me: Bitcoin is the answer. I labored with Bitwage to create this answer to make sure that my work pays dividends sooner or later.”

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