First Bitcoin-Funded Indy 500 Car Makes Historic Race

A race car fully funded by Bitcoin made its debut at the popular Indianapolis 500 on May 30. This car, appropriately named Bitcoin, will be one of the 33 cars that will take the green at the 105th edition of the highly anticipated racing event.

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The Bitcoin car, driven by Russian Rinus VeeKay, will be under Ed Carpenter Racing, which has been participating in the IndyCar Series since 2012. According to a tweet, Ed Carpenter, the Co-Founder of the said racing team, announced that the Bitcoin community made history with this milestone.

The tweet spread like wildfire, as many in the crypto community shared the post. Among those who took notice of this car included well-known figures Binance CEO Changpeng Zhao and crypto advocate Anthony Pompliano.

At the time of writing, the race was still ongoing, with Bitcoin car in the lead.

As stated in the first tweet, the specific racecar’s initiatives are “human freedom, financial inclusivity, savings technology, and Bitcoin open-source development”. Amid his “ups and downs”, as Carpenter said in another tweet, his passion for racing did not waver. In fact, this is his 18th time to race in the Indy 500.

Moreover, for the “first time” in Carpenter’s life, one of his cars did not get any funding from a corporation. Rather, it was funded by average people, specifically Bitcoin investors.

He added,

“This race is bigger than racing. For the first time, the Indy 500 is about a community of individuals and all we’re trying to accomplish in building Bitcoin.”

At the time of writing, Bitcoin price is trading at $35,850.17, according to CoinGecko.

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