Chicago (CNN) – Chicago Music Exchanges, which are part of the Chicago Cubs organization, is accepting Bitcoin as a payment option for all transactions, CEO Joe Nacchio said Friday.
“We are a bitcoin exchange, so we accept bitcoin and we are working with our partner Coinbase to help us grow and provide more options to our customers,” Nacchios said in a statement.
“The exchange was created by our founder, Chicago Bulls legend and philanthropist, Charles Barkley, who wanted to bring bitcoin into the entertainment industry and help fans support their favorite players.
We are proud to offer a bitcoin-friendly payment option and hope to offer more options for fans to support the Chicago Bulls.”
Nacchio declined to disclose the amount of bitcoins that will be accepted.
Chicago Bulls players including Derrick Rose, Pau Gasol and Joakim Noah have already been using Coinbase to make payments to pay for tickets, merchandise and other items at the team’s Chicago home.
A similar bitcoin payment option exists for the NBA Chicago Bulls, where fans can also use Coinbase to pay to purchase tickets.NBA Chicago Bulls head coach Michael Jordan also recently used Coinbase to purchase a ticket to a charity basketball game.
Chicago Mayor Rahm Emanuel and Chicago police Commissioner Eddie Johnson also have announced their support for the Chicago Music exchange.
Chicago is home to a number of music festivals, including Lollapalooza, Electric Daisy Carnival and Chicago Pride.