Wall Racing will become the first sporting team in Australia to hold Bitcoin on its balance sheet, following the Sydney based team’s partnership announcement with Monochrome Asset Management, the investment management firm behind Australia’s leading investment-grade Bitcoin Fund.
As part of this partnership, the Monochrome Bitcoin Fund will proudly feature as the major partner of Craig Lowndes’ Porsche 911 GT3 Cup car for the penultimate rounds of Porsche Paynter Dixon Carrera Cup Australia at Bathurst which take place from the 01-05 December.
In an innovative Australian first, the partnership will extend beyond vehicle branding and customer experiences, with Wall Racing adding bitcoin exposure to their balance sheet. The teams will share further details on this initiative closer to the event.
Team Principal, David Wall: “Not only is it great to have the backing of Jeff and the team at Monochrome for Wall Racing, it’s exciting to lead this adoption of bitcoin as an investment at a corporate level.”
“While this is a newly minted deal, we hope it continues to flourish and grow alongside Monochrome. The business has a fascinating trajectory, an excellent team, and we expect our fans and the audience of the Carrera Cup Australia will respond well to it.”
Seven-time Bathurst 1000 winner, Craig Lowndes: “It is exciting to have the Monochrome team join us for the race, and we look forward to introducing their brand not only to the series and its audience, but the iconic Mount Panorama race track. It’s been a disjointed year of racing, so from a driver’s point of view, I can’t wait to get in the Monochrome Porsche and lap the Mountain.”
Jeff Yew, CEO of Monochrome Asset Management: “Monochrome takes a lot of pride in being able to build a partnership with Australian sporting icons such as Wall Racing. It will be exciting to see Craig tackling the Mountain in December.”
“David Wall and the team have always pioneered performance, on and off the race track. They’ve continued this by becoming the first Australian sporting group to have Bitcoin on their balance sheet, which is a massive milestone for Australian sports,” he continued.
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