Fans of the San Jose Earthquakes beginning May 25 can pay for tickets, merchandise and concessions with Bitcoin, making the Major League Soccer team the first professional sports franchise to accept the virtual currency inside its stadium.

"In the spirit of Silicon Valley, the Earthquakes are constantly looking for ways to innovate," team President Dave Kaval said in a statement.

The team has partnered with San Francisco-based Coinbase Inc. to bring processing to Buck Shaw Stadium.

Fans will need a Bitcoin wallet on a mobile device to make purchases.

Bitcoin is a software protocol that was created anonymously in 2009 under the name Satoshi Nakamoto. Bitcoins are traded like commodities, and promoted by backers as a currency, which can now be used to buy food, clothing and even luxury houses.

The National Basketball Association's Sacramento Kings in January became the first pro sports team to accept Bitcoins.

The franchise owned by software billionaire Vivek Ranadive partnered with payments-processor BitPay Inc. to accept the digital money in the Kings online team store, which sells jerseys, T-shirts and paraphernalia.