Real Bedford FC, a nonleague football (soccer) club in the UK, has caught everyone's attention by purchasing $4.5 million more worth of Bitcoin (BTC). Peter McCormack, the club’s founder and a well-known crypto podcaster, announced the acquisition of 66.9 BTC for $4,500,420.69, with each Bitcoin priced at approximately $67,220.
Backed by Winklevoss Capital and co-owned by McCormack, Real Bedford FC has big ambitions. Since McCormack took over the club in 2021, he has aimed to propel Bedford FC into the English Football League, and eventually the Premier League. This vision led to the recent name change to Real Bedford FC and adoption of Bitcoin earlier this year.
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As of now, the club now holds 82.7 BTC in its treasury, bought at an average price of around $64,925 per Bitcoin. Not all of them are untouchable, though, as 15.8 BTC were set aside for soccer-related expenses.
Real Bedford has acquired 66.9 BTC for $4,500,420.69 @ avg price of ~$67,220 per #bitcoin.As of today, @realbedford HODLs 82.7 $BTC acquired for ~$5.37m @ avg price of ~$64,925 per bitcoin.15.8 BTC is held in float for football matters, the rest is held in our treasury.
— Peter McCormack 🏴☠️ (@PeterMcCormack) July 21, 2024
The crypto world took notice of this strategic investment. Michael Saylor from MicroStrategy gave a nod of approval with a “Real ₿edford” comment, while Hunter Horsley of Bitwise called McCormack a “legend."
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With Bitcoin’s value on the rise, especially in the last two weeks, Real Bedford FC’s approach sets them apart as forward-thinkers in the football world. The funds from this investment will be used to improve facilities and support community-building initiatives, ensuring the club’s growth and sustainability.
