Polo — a high society event usually associated with champagne and attended by the upper echelons of society is now being adopted by the crypto crowd.
Crypto’s Nouveau Riche Enter the Pitch
On April 20, the Crypto Polo Cup tournament will be held in Dubai, and players will include Bitcoin evangelist Roger Ver, with Shiba Inu, the Solana Superteam pitted against Oobit. In total, there will be four teams all backed by prominent players in the crypto space. The match will be held at Dubai Polo & Equestrian Club.
“I am honoured to lead team Bitcoin.com in this exciting tourney, which is a fantastic opportunity to showcase the power and potential of various stakeholders of our industry, in a unique and engaging setting,” said Ver in a press release.
Horseback riding and polo events have always been an extremely popular sport in the United Arab Emirates (UAE) — traditionally horses are seen as a symbol of chivalry, nobility and pride.
Nouveau Riche Crypto Crowd Showing ‘Pure Class’
The event which will be held during the same week as the much-awaited Bitcoin halving event is expected to attract crypto enthusiasts to the UAE.
“As the King of Sports, Polo enjoys a cultural popularity in the UAE, and the CPC will enable a platform for meaningful networking with a dash of adrenaline and pure class,” said Philip Lord, President of Tether-backed crypto payments firm Oobit.
“Attendees can additionally expect a thrilling competition that reflects the innovation and excitement of the cryptocurrency world,” said Lord.
Bitcoin Halving 2024: Impact and Expectations
The Bitcoin halving event, a technical occurrence in the Bitcoin network, is designed to reduce the rate at which new Bitcoins are introduced into circulation. I
Bitcoin halving, set to occur in April 2024, is an event that halves the reward for mining new blocks, reducing miner earnings for transaction verification by 50%. This reduction, happening every 210,000 blocks or roughly four years, will continue until 21 million bitcoins are in circulation.
Halving is crucial for traders as it cuts the new bitcoin supply, potentially hiking prices if demand stays stable. The upcoming halving at block 740,000 will decrease the reward from 6.25 to 3.125 bitcoins.
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