- Bitcoin has more than doubled in price in the last month.
- One BTC is now worth over $40,000.
- Bitcoin has -130 odds to go up in price during the Super Bowl.
LAS VEGAS - Bitcoin has skyrocketed in the last month and has reached new heights in terms of value. This has placed it back into the spotlight, as one Bitcoin is now worth over $40,000.
With the Super Bowl coming up, the sportsbooks are looking for ways to get action on anything even remotely related.
Some sportsbooks have come up with an interesting combination of the Bitcoin craze and Super Bowl betting.
Super Bowl LV - What Will Happen To The Price Of Bitcoin (BTC) During The Superbowl?
- Price Of Bitcoin Goes Up -130
- Price Of Bitcoin Goes Down -110
The wager is already tilted a little bit in favor of the price of Bitcoin going up. The Super Bowl is still almost a month away, as it will occur on February 7, 2020.
To give an example of how long a month can be in terms of Bitcoin value, on December 8, 2020, Bitcoin was worth around $18,000.
Now, a month later, it’s worth more than double that.
Given this, it could be shortsighted to wager on this prop bet early. Bitcoin is currently skyrocketing, and the bubble may burst. However, it also may not. That’s the uncertainty of the wager at this point. A month ago, not many expected Bitcoin to be $40,000, after all.
There is also the audience at the online sportsbooks to consider.
The online sportsbooks, specifically the offshore ones where wagers like this originate, are generally very forward-thinking on the issue of cryptocurrency.
Many of them specifically want people to use cryptocurrency as their method of payment, offering rebates and bonuses for doing so. Given this, the audience of people using Bitcoin at sportsbooks are going to be more familiar with crypto.
This could be to blame for the discrepancy in the odds - anyone familiar with Bitcoin is over the moon right now, and very enthusiastic about the future.
This is certainly a wager to keep an eye on, as trends in the Bitcoin market materialize quite quickly.
It is likely too early to touch this wager at the moment, given the volatility of the currency right now, but there is definitely money to be made with Bitcoin.
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Maxwell joined the BettingSuperBowl team in 2019 and is thrilled to be working for a website that so mirrors his interests. Maxwell is an avid follower of sports, a consumer of sports gambling news, and seeks to constantly better himself and his readers.