Millions are spent on player transfers every single window, with the prices rising as high as €100 million becoming common for any talented youngster. However, the future of football transfers could well be shrouded in the acceptance of cryptocurrency in the form of Bitcoin as a replacement for the big bucks being splashed around the way they are.
The way that Bitcoin has soared in value creates the perfect opportunity for clubs to invest and use these funds in making high-value transfers. What’s even better is that the money takes about ten minutes to transfer from one user to another and is stored on a computer.
The Financial Fair Play rules could be followed better using Bitcoins for transfers, considering that clubs will not be able to spend more than they own. But a key factor in this lies in the fact that clubs could simply agree to pay in instalments or agree to some other kind of workaround that bends the rules of FFP.
Bitcoin transactions can also be traced completely, owing to the Blockchain feature of the platform.
There have been instances across Europe where transfers have been completed through the use of Bitcoin as a payment method. However, it is yet to emerge on to the big scenes. This could change in the next few years as clubs could try to transfer funds more directly since Bitcoins do not take a lot of time to reach their intended target.