Amid Recent Market Crash, Does the PGA Tour Still Accept Cryptocurrency for Payments?

The 2022 Barracuda Championship was special for a lot of reasons. Tahoe Mt. Club in California hosted the event from July 14 to 17, and the Old Course in St. Andrews hosted the 150th Open Championship on these same days. Furthermore, it was the first tournament in the history of the PGA Tour that accepted cryptocurrency payments. 

“We are incredibly excited to take this first step in innovating the sport we all know and love,” the tournament director, Chris Hoff, said about it. The Tour and its event wanted to become part of the new world by adding cryptocurrency as a payment method. 

“The professional golf landscape continues to innovate and evolve,” the championship director further added. “We are honored to usher the PGA TOUR into this new space.” 

Cryptocurrency is not a payment option for the upcoming PGA Tour event

In November 2021, the price of the most popular cryptocurrency, bitcoin, reached $69,000, its record price. Soon after, all the organizations and people worldwide wanted to invest or buy the same. Similarly, the American Tour for professional golfers wanted to be a part of it too. 

A year before, cryptocurrency was the talk of the city; so is now. While the former discussion was about how to invest more in it, the people are currently talking about how everyone lost money because of it. 

The global market has been down for a while now, and so has the cryptocurrency market. The bitcoin price dropped below $16,000 this month, a year after it reached its record price. 

Read more: How Tiger Woods Helped Other Golfers Become Millionaires

Notably, the Tour officials wanted to make cryptocurrency a payment method for all its events. However, the market fall led them to change it as well. There is no cryptocurrency option available as a payment method for buying tickets for the next week’s RSM Classic. 

Crypto or not, the players will have fierce competition at the RSM Classic next week

The Seaside Course of Sea Island Golf Club will host the RSM Classic from November 17 to 20 this year. Last year, Taylor Gooch won the event with a 3-shot lead. Since he joined LIV Golf, the rival league of the PGA Tour, he will not be part of the field.

Although the defending champion will not be present at the event, the competition will be tough this year as the purse money has increased from 2021. $7.2 million was the purse of the event last year, but the field with players, including Tony Finau and Zach Johnson, will be playing for a massive $8,100,000 purse.  

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Have you ever purchased a championship entry ticket using cryptocurrency on the Tour?