English Football Club Secures $4.5 Million in Bitcoin (BTC)

Real Bedford FC, a non-league football club in the UK, has recently made headlines by purchasing an additional $4.5 million worth of Bitcoin. The club’s founder, Peter McCormack, who is also a prominent crypto podcaster, disclosed the acquisition of 66.9 BTC for $4,500,420.69, with each Bitcoin valued at about $67,220.

Co-owned by McCormack and backed by Winklevoss Capital, Real Bedford FC has ambitious goals. Since taking control of the club in 2021, McCormack has aimed to elevate Bedford FC into the English Football League and ultimately the Premier League. This vision has led to significant changes, including a name change to Real Bedford FC and the decision to invest in Bitcoin earlier this year.

Currently, the club holds 82.7 BTC in its treasury, purchased at an average price of approximately $64,925 per Bitcoin. However, not all of these assets are for long-term holding, as 15.8 BTC have been allocated for soccer-related expenses.

This strategic investment has garnered attention in the cryptocurrency community. Michael Saylor, the CEO of MicroStrategy, expressed his support with a comment referencing “Real ₿edford,” while Hunter Horsley of Bitwise praised McCormack as a “legend.”

With Bitcoin’s value increasing, especially in recent weeks, Real Bedford FC’s approach distinguishes them as innovators in the football industry. The capital from this investment is intended to enhance facilities and bolster community-building efforts, ensuring the club’s future growth and sustainability.