Luana Pinheiro, a strawweight competitor in the Ultimate Fighting Championship (UFC), is the first female athlete in Latin America to get her entire salary in bitcoin.
The UFC's 15th-ranked strawweight challenger Luana Pinheiro will now get her whole contract wage in Bitcoin, according to a story.
Pinheiro, a Brazilian fighter, has revealed a relationship with Bitwage in order to convert her pay into Bitcoin.
According to the sources, she will continue to collect her sponsorship payments in fiat currency before having them instantly converted to bitcoin through the payroll provider Bitwage.
Pinheiro, who is currently on an eight-match winning streak, claims that her boyfriend Matheus Nicolau, a Brazilian fighter who is rated #7 in the UFC flyweight class, persuaded her to accept her payment in Bitcoin.
According to a news release issued by Bitwage, Nicolau agreed to an arrangement in March that would allow him to collect future payments from the UFC in Bitcoin. Nicolau was the first UFC fighter from Latin America to "accept a salary in Bitcoin" at the time.
“I’m thrilled to be receiving my earnings in bitcoin. As an athlete, I work hard to earn a living for myself, but with rising inflation I worry that this hard work goes to waste. By using Bitwage to earn bitcoin, I know that I am securing the value of my work.”
The price decline of Bitcoin and the current market instability for cryptocurrency prices, according to Pinheiro, have not bothered her.
She then compared her dedication to Bitcoin to her practice of Brazilian Jiu Jitsu before stating that instability also caused the price to increase.
Additionally, Pinheiro asserted that she is interested in Bitcoin as an inflation hedge. She mentioned that the Brazilian Real (BRL), which was formerly pegged 1:1 with American dollars in the middle of the 1990s, is now only worth around 1/5th of what a dollar is worth.
Pinheiro has joined a number of other UFC competitors in taking cryptocurrency as payment.
The company has shown a lot of interest in cryptocurrencies, even going so far as to announce a partnership with sponsor Crypto.com to accept Bitcoin for fan-voted bonuses.