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Indy 500 to Feature Bitcoin Sponsored Car in Effort To Spread Adoption

·2 min read

The 105th edition of the Indianapolis 500 will feature a Bitcoin sponsored car. Ed Carpenter Racing will have a fully designed BTC Chevrolet numbered 21.

Popular American NTT IndyCar Series will feature the popular cryptocurrency in Sunday’s big event. The annual automobile race held at Indianapolis Motor Speedway will see cars race 200 laps to claim the title of Indy 500 winner.

Ed Carpenter Racing (ECR) had announced this week that their number twenty one Chevrolet will be driven by Rinnus VeeKay, and will be sponsored by the popular cryptocurrency.

The race car will be detailed in the popular BTC logo. The BTC logo is not under any copyright laws, therefore giving the team free reign to design the car as they wish.

The car has also been numbered as 21 to signify the total supply of BTC, being 21 million.

Source: <a href="https://twitter.com/IMS/status/1396177624679002112?s=20" rel="nofollow noopener" target="_blank" data-ylk="slk:Twitter" class="link rapid-noclick-resp">Twitter</a>
Source: Twitter

Talking to Autoweek, team owner Ed Carpenter spoke about the idea, saying “The whole movement is amazing. I really believe that it is the future of a lot of what our financial system is going to look like. There can be a lot of volatility in it still, but the whole premise and how it’s built—there’s so many positives to it that make it so valuable in the long-term.”

Racing for adoption

Carpenter hopes to eventually be able to pay service providers in BTC, admitting that currently it is not a viable option, “but I see a future where that will change, and if I can be at the tip of the spear of that, it’s a fun project and one that’s also doing historic things for the Bitcoin community as well” he said.

Educating the masses

Carpenter admits he is an avid fan of bitcoin, and the idea behind sponsoring a BTC car will allow for the spread of adoption and awareness around the cryptocurrency. Carpenter explains “It’s about educating, whether it’s race fans or people who are maybe afraid of it or don’t understand it.”

The team owner is looking to remove the stigma surrounding the digital asset, explaining that people do not understand how the crypto works. “We’re trying to help bridge that gap” Carpenter explains.

Founder of Strike, Jack Mallers who assisted in sponsoring the Bitcoin race car explains that Carpenter “is racing for human freedom, financial literacy, financial inclusivity, and is using the platform he’s earned throughout his career to promote the most powerful message possible in pushing humanity forward. We’re tremendously proud to support his efforts.”

The Indy 500 starts at 12:45 EST on Sunday. With Rinus VeeKay and the Bitcoin car starting third on the grid.