08/03/2022

How Cryptocurrency, Other Blockchains Could Fit Into Your Association's Future

Their use as currency may be more pertinent to associations

Over the past decade, cryptocurrency became a household name. This new asset class soared last year with a market cap of nearly $3 trillion in global investments. Professional athletes, including Aaron Rogers and Odell Beckham, Jr., requested portions of their salaries be paid in bitcoin, the cryptocurrency with the largest market cap, instead of U.S. dollars.

Are their opportunities for associations to use cryptocurrency to expand their bottom line? Association leaders need to take careful consideration when developing a plan to incorporate cryptocurrency into their business strategy. While cryptocurrency has been a high-performing asset class at times, it is highly volatile. Bitcoin went from an all-time high value of more than $67,000 per coin in November 2021 to around $20,000 per coin in July 2022.

Here are some considerations for your association when it comes to using cryptocurrencies.

Please select this link to read the complete article from Associations Now.