Back Bay became the first Southern Baptist church in the United States to accept cryptocurrencies as a form of payment in addition to more standard methods last Sunday.
Pastor Adam Bennet, a Mississippi Gulf Coast native who has been in full-time ministry since 2005, has added cryptocurrency to the mix of fundraising (tithing) options.
According to Cryptoslate, Bennet talked with a few individuals in the church who were into crypto, “which turned into a conversation about it.”
“Then I conducted some study and found that crypto is accepted by the Salvation Army. I looked at their platform and ultimately decided to pick one that was more appropriate for us.”
Bitcoin is the most well-known cryptocurrency, but it is far from the only one. Bennett also holds Bitcoin Cash, Dai, Dogecoin, Litecoin, and USD Coin, as well as Ethereum, the second most popular cryptocurrency.
The unknown origins of cryptocurrency contribute to the skepticism that many people still have about using it, yet adoption has clearly increased.
Russell Okung, a Carolina Panthers offensive tackle, converted half of his $13 million paycheck to Bitcoin in December last year.
Bitcoin’s worth had doubled by late April, making him one of the highest-paid players in the National Football League at his position and one of the top 25 overall.
In the spring of 2019, NFL journeyman quarterback Matt Barkley attempted to be paid in Bitcoin by both the Buffalo Bills and the San Francisco 49ers.
It’s one thing for professional athletes to invest millions of dollars in cryptocurrency. It’s possible that some church members are skeptical of it.
Bennett emphasized that his church’s dabbling into crypto is just to test the waters. However, he expects its use to increase in the coming years.
For the time being, he advises people to conduct extensive research before following his lead.
Image courtesy of Cointelegraph News/YouTube
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