Sport Star Academy accepts Bitcoin currency as payment for a franchise

By Sarah Stowe | 06 Dec 2021 View comments

Sport Star Academy has introduced cryptocurrency Bitcoin as a way to buy a franchise, with one Sport Star Academy business valued at one Bitcoin.

Sport Star Academy founder, Peter Nikolakopoulos, believes the brand’s move to accept Bitcoin is reflective of the company’s pioneering attitude.

“At Sport Star Academy, we’re constantly making innovative plans for the future of our franchises. With cryptocurrency likely to drive the next wave of information technology, we’re looking ahead in order to accommodate all potential franchisees.

“As a technology-forward business, we are also anticipating interest from budding entrepreneurs in the Gen Z and millennial crowd.”

Bitcoin is a digital currency which offers an alternative yet secure payment system. Encrypted transactions make Bitcoin a highly protected currency which has skyrocketed massively in its popularity.

Nikolakopoulos points to the potential for cryptocurrency outlined in an Australian survey by global researcher YouGov. The survey, commissioned by cryptocurrency exchange Kraken, predicts about 4 million Aussies will buy digital currencies before the end of 2021/22 financial year.

The Bitcoin Statistics Australia 2021 report from Finder also found that of the Australians who currently own some form of cryptocurrency, 65.2 per cent hold assets in Bitcoin. The report reveals that as of November, Bitcoin accounts for 42 per cent of the total value of the biggest 250 cryptocurrency coins.

The latest move into cryptocurrency comes at the end of a busy year for the kids’ multi-sport business.

In October Sport Star Academy signed a new partnership with Aquastar Swim School, to give learn-to-swim programs a big boost.

Earlier in the year the multi-sport franchisor unveiled five new business segments, taking the kids’ sports franchise into brand new arenas such as gaming and STEM (science, technology, engineering and maths).