Turkish football club completes first bitcoin transfer

A Turkish football club has completed the country's first ever transfer using the Bitcoin cryptocurrency, broadcaster CNN Turk reported.

Harunustaspor, a local amateur league club, signed 22-year old Omer Faruk Kiroglu for 2,000 liras (£377.6) worth of Bitcoin and 2,500 liras in cash, for a sum total of 4,500 liras, CNN Turk said.

Club chairman Haldun Sehit declared that the move was the first of its kind by a sports club in Turkey and worldwide. "We did it to make a name for ourselves in the country and the world... We are proud of this," the New York Times cited him as saying.

Digital currency Bitcoin has been on a highly volatile track in the last few months. After hitting an all-time high just shy of $20,000 on Dec. 17 on the Bitstamp platform, it plunged more than 50 percent over the ensuing month to below $10,000, but has since stabilised to just shy of $11,000.