Polo, typically regarded as a high society affair intertwined with champagne and frequented by the elite, is now finding resonance within the crypto community.
Crypto’s Nouveau Riche Enter the Pitch
Scheduled for April 20, the Crypto Polo Cup tournament is set to take place in Dubai, featuring notable figures like Bitcoin advocate Roger Ver, alongside teams such as Shiba Inu and the Solana Superteam, facing off against Oobit. Four prominent teams, each supported by key players in the crypto sphere, will compete at the Dubai Polo & Equestrian Club.
Expressing his enthusiasm, Ver stated in a press release, “I am honored to captain Team Bitcoin.com in this thrilling tournament, providing a unique platform to highlight the prowess and potential of various stakeholders within our industry.”
Horseback riding and polo have long been cherished sports in the United Arab Emirates (UAE), where horses symbolize traits of chivalry, nobility, and pride.
Nouveau Riche Crypto Crowd Showing ‘Pure Class’
Taking place concurrently with the highly anticipated Bitcoin halving event, the tournament is anticipated to draw crypto enthusiasts to the UAE.
Philip Lord, President of Oobit, a Tether-backed crypto payments firm, remarked, “Polo holds a revered cultural status in the UAE as the King of Sports, and the CPC will provide a platform for valuable networking infused with excitement and sophistication.”
Lord added, “Attendees can anticipate an exhilarating competition that mirrors the innovation and dynamism of the cryptocurrency realm.”
Bitcoin Halving 2024: Impact and Expectations
The Bitcoin halving event, a technical adjustment within the Bitcoin network, is engineered to decrease the pace at which new Bitcoins enter circulation.
Scheduled for April 2024, the Bitcoin halving event entails a halving of the reward for mining new blocks, effectively reducing miner rewards for verifying transactions by 50%. This periodic reduction, occurring approximately every 210,000 blocks or around four years, will persist until the total number of bitcoins in circulation reaches 21 million.
The halving holds significant implications for traders, as it diminishes the influx of new bitcoins into the market, potentially leading to price surges if demand remains stable. The impending halving at block 740,000 will reduce the reward from 6.25 to 3.125 bitcoins.
