Paris Saint-Germain Invests in Bitcoin, Expands Crypto Initiatives

Paris Saint-Germain (PSG), the renowned football club, has made a significant move into the world of cryptocurrency by confirming that it holds Bitcoin (BTC) on its balance sheet. This announcement was made on May 29, revealing that the club had shifted part of its cash reserve into Bitcoin in 2024 and continues to hold the position. This strategic move positions PSG as one of the few professional sports franchises to directly invest in digital assets, setting it apart from others that primarily rely on sponsorship revenue, fan tokens, or NFT collectibles.

PSG Labs, the club's innovation hub, is also expanding its focus on supporting companies building on the Bitcoin network. The spokesperson for PSG mentioned that the club will provide funding and go-to-market assistance to Bitcoin-focused startups through pilots on the club’s digital channels. This initiative aims to leverage the club’s extensive fan base, which exceeds 500 million, to support the growth of the Bitcoin ecosystem.

PSG Labs has a broad range of crypto-related initiatives, including tokenization, decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), stablecoins, custody solutions, and on-chain gaming. These initiatives reflect the club's commitment to exploring the potential of blockchain technology and its applications in the sports industry.

PSG's foray into the crypto world began in 2018 with the launch of a fan token through Socios. Three years later, the club struck a multi-year sponsorship deal with Crypto.com, which included partial payment in the exchange’s CRO token and collaborations on NFT projects. In February 2024, PSG became the first professional sports team to run a validator on the Chiliz blockchain, pledging all validator rewards to buyback PSG fan tokens and hosting stadium-based hackathons at Parc des Princes to foster Web3 development.

By holding BTC on its books and investing in Bitcoin-centric startups, PSG aims to differentiate its sponsorship income from strategic investments in the underlying technology. The club's spokesperson emphasized that PSG will "race with them" and reach global markets through the club’s brand infrastructure, highlighting the club's ambition to leverage its global presence to support the growth of the Bitcoin ecosystem.