Why Francis Ngannou is converting half of his UFC 270 purse to bitcoin

Francis Ngannou has gone bitcoin crazy ahead of his monstrous fight with Ciryl Gane at UFC 270.

The Predator is scheduled to defend his title on January 22 at the Honda Centre in Anaheim, California. But the man who will be standing across the Octagon from him is by no means an easy challenge. His French opponent has a fight IQ far beyond his 13 fights. He effortlessly glides around the ring, picking his adversaries off with ease.

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However, despite the demanding nature of the task ahead of him, Ngannou appears to have his head engaged in other issues. The Cameroonian has been involved in a war of words with heavyweight boxing champion Tyson Fury. He also wants to start making the same money as those who compete in the squared circle.

He told ESPN: “No, I will not fight for $500,000, $600,000 anymore. It’s over. I just did this. I took this fight for a personal reason, and I want to make sure that regardless, even if it’s unfair, I have been wrongly treated.”

Read: Five of Francis Ngannou’s best knockouts

The contest he is preparing for is the last on his contract. But if he wins, the ‘champions clause’ will mean that he has to fight in the UFC until he loses the belt.

Francis Ngannou makes big bitcoin statement

The 249-pound monster has teamed up with Cash App to give something back to his supporters after his UFC 270 fight. He posted a video onto his social media pages in which he elaborated on the project.

He explained: “After doing a lot of research on bitcoin, I really believe that it is the future of money. Bitcoin is valuable, secure and no one can mess with it. That’s why I’m taking half of my next UFC purse in bitcoin. Thanks to Cash App.

“I want to make bitcoin more accessible to you all. So to match my commitment, I’m giving out $300,000 worth of bitcoin.”

What is bitcoin?

Bitcoin is a form of virtual currency. There is no physical form of this type of finance. It’s simply an online version of cash. People send their virtual currency to other people’s digital wallets via what is known as peer-to-peer technology.

The virtual currency has risen by vast amounts over recent years, but it is also highly volatile.

Ngannou’s project is certainly something we haven’t seen much of before, in this particular context. But it seems to be popular amongst fans.

Featured Image Credit: Getty