When it comes to finding non-traditional sponsors for the Indianapolis 500, Ed Carpenter Racing is in a league of its own. Carpenter, the three-time Indy pole winner, set the bar incredibly high last year when the United States Space Force adorned his No. 20 Ed Carpenter Racing Chevy, and thanks to the rapid growth of cryptocurrency, ECR will introduce Bitcoin to the event as title sponsor of Rinus VeeKay’s No. 21 Chevy.

“I could not be more excited that this project is becoming a reality. To bring my personal interest and immersion in Bitcoin to our industry is historic,” Carpenter said. “Just as Bitcoin is revolutionizing our financial system, I see it as an opportunity to transform how we operate within our own motorsport industry.”

According to ECR, VeeKay’s car will be crowdfunded.

“Ed Carpenter Racing has partnered with Strike to fundraise on behalf of the Bitcoin community and support all necessary on-track activities for the Month of May,” it wrote. “Strike will handle all payments and donations for the effort through its lighting network and payment application. The Bitcoin car is for the people and supported by the people. A unique QR code enables the world’s first peer-to-car contribution model allowing anyone in the world to donate. Bitcoin has a fixed supply at 21 million, with no more to ever be made and ECR is honored to represent Bitcoin on the No. 21.”

RACER understands the team has been quite successful in its fundraising efforts through Strike, with Carpenter confirming the Indy 500 budget has already been raised.

“Ed’s message is simple; he doesn’t want to race for potato chips or soft drinks at the Indy 500,” said Jack Mallers, founder of Strike. “This year, Ed is racing for human freedom, financial literacy, financial inclusivity, and is using the platform he’s earned throughout his career to promote the most powerful message possible in pushing humanity forward. We’re tremendously proud to support his efforts.”

ECR has gone on step further by giving its employees the option to have their paychecks delivered in the form of Bitcoin.