Yusuf Abdul-Ali is the CEO and founder of the Bitcoin Classic, an event that saw elite players from across the nation descend on southwest Atlanta to go head-to-head in the most innovative basketball tournament of the summer. Attendees saw an exciting three-point shooting contest, live musical performances, guest speakers discussing Bitcoin education, and a winning prize of $30,000 in Bitcoin powered by Cash App.
Not only did the event attract members of the Atlanta community, but it brought together industry leaders, fostered networking opportunities, and promoted local innovation, while also making the city a growing destination for cryptocurrency.
Abdul-Ali spoke with rolling out about the event, and the future of Bitcoin.
What interested you in creating the Bitcoin Classic?
I’ve always been a basketball junkie, then I started playing in nonprofit events and giving … scholarships. When I invested in Bitcoin at the end of 2019, I realized the importance and the value of Bitcoin and I thought maybe I could figure out a way to make this a national thing, in terms of mixing it with my other passion, basketball. I mixed the two and put on a couple of tournaments and it got good feedback. I started to realize that players were enjoying it, and they were open to learning about Bitcoin. I knew this could be something, and that’s when I started pushing the Bitcoin Classic.
What should we know about Bitcoin?
We’re always a little late to technology, and we’ve had a lot of setbacks in the past in terms of getting us the education we need on certain things. With Bitcoin, I feel like it allows you to be your bank, and in a way, it allows you to save. It’s an investment, and it’s also a form of currency. It has a lot of roles and whatever point you are in your life, you can benefit from it. For me, I use it as an investment tool because I think long term there’s going to be a bigger need for this worldwide. For the everyday person, just understand what it is, and know that it is a currency and you can save in it. It’s also a way of commerce, you can buy things with it from Africa and send them Bitcoin instead of dealing with all the third-party companies.
What do you think is the future of Bitcoin?
For the corporate world, I think the government is going to figure out a way where it makes sense for them. I see it being adopted globally. It’s already a slow growth, but I feel like in five to 10 years, it’s going to be a currency for a lot more countries. I feel like the United States is going to have a major role in it in some way, shape, or form.