Bitcoin Enthusiast Invests $4.5 Million in English Football Club’s Treasury
Real Bedford Football Club (RBFC), an English football club, has made a significant move by adding $4.5 million worth of Bitcoin to its treasury. The club’s chairman, Peter McCormack, who is also a Bedford resident and a prominent crypto podcaster, revealed the purchase of 66.9 BTC at an average price of $67,220 per coin on Twitter.
The exact purchase price was a fun $4,500,420.69, as mentioned by McCormack himself. This Bitcoin investment is a strategic step for Real Bedford FC as they aim to progress through the English football ranks to eventually reach the Premier League.
Since taking over the club in 2021 when it was a tenth-tier team, McCormack has overseen significant achievements, including winning the Bedfordshire Senior Trophy and the Division One title, leading to a promotion to the ninth-tier Premier Division. However, the club still has a long journey ahead to reach the pinnacle of English football.
A portion of the Bitcoin funds, specifically 15.8 BTC, has been allocated for soccer-related expenses, while the majority will be utilized to enhance facilities and support community initiatives. With this recent acquisition, Real Bedford FC’s total Bitcoin holdings now exceed $5.37 million.
The crypto community has warmly welcomed this move by Real Bedford FC. MicroStrategy chairman Michael Saylor expressed his approval with a tweet, and the timing of the club’s Bitcoin investment coincides with the cryptocurrency’s recent surge to around $68,000.
Additionally, Tyler and Cameron Winklevoss, co-founders of Gemini exchange, have shown their support for RBFC. Gemini became a sponsor of the club in 2022 and recently extended their sponsorship for another five years. The Winklevoss twins also joined McCormack as co-owners of RBFC earlier this year, injecting $4.5 million in Bitcoin into the club—the largest crypto investment ever made into a UK football club outside the professional leagues.
This strategic move by Real Bedford FC underscores the increasing integration of cryptocurrencies in the sports industry and highlights the potential for digital assets to revolutionize traditional sectors.
