While a fraction of a bitcoin may not sound like much, consider that the value of one bitcoin, as of Friday, was worth just over $16,000, according to digital-currency website CoinDesk, whose Bitcoin Price Index tracks prices from Bitfinex, Bitstamp, Coinbase and itBit.
But also keep in mind that the value of bitcoin can be volatile. Last year, according to CoinDesk, the cryptocurrency’s value jumped from under $1,000 in January to more than $19,000 mid-December, and then back down to its current value, which, though impressive, remains more than $3,000 below its record high.
Since Bitcoin Bowl’s prizes aren’t pegged to a specific dollar amount, the grand prize could end up being a lot more, or a lot less, than bitcoin is currently worth.
Users must enter before 4:35 p.m. EST Saturday, when the first playoff game is set to start. FanDuel is not accepting cryptocurrencies as a form of payment to enter.
When the contest is over, winners will have an opportunity to claim their prize and have 30 days to transfer it into a bitcoin wallet.