TL;D
- Real Bedford FC (RBFC), an English football club, has purchased $4.5 million worth of Bitcoin as part of its strategy to gain promotion to the Premier League.
- The club, acquired by Peter McCormack in 2021, has increased its Bitcoin holdings to 82.7 BTC, valued at approximately $5.37 million.
- The Winklevoss brothers, founders of Gemini, are sponsors and co-owners of RBFC, supporting its vision of becoming the first Bitcoin-powered football team.
In a bold move, English football club Real Bedford FC (RBFC) announced the acquisition of $4.5 million worth of Bitcoin, adding 66.9 BTC to its treasury.
This purchase brings the club’s total holdings to 82.7 BTC, valued at approximately $5.37 million. Peter McCormack, host of the “What Bitcoin Did” podcast and chairman of the RBFC, revealed the news in a post on X, highlighting that this investment was made at an average price of $67,220 per Bitcoin.
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
McCormack acquired RBFC in 2021 and has embraced Bitcoin as a strategy to secure the long-term ambitions of the club, which plays in the eighth division.
His vision is to transform RBFC into the first Bitcoin-powered football team and eventually promote to the Premier League.
The club have now achieved two consecutive promotions, moving from the South Midlands League Division 1 to the South League Central Division 1 in the last two seasons.
The support of Gemini founders Cameron and Tyler Winklevoss has been crucial in this adventure.
In 2022, Gemini became a sponsor of the RBFC, and recently extended its contract for five more years, paid upfront in Bitcoin.
This collaboration not only supports the success of the club, but also seeks to generate opportunities for children in the local community.
The Winklevoss brothers joined McCormack as co-owners of Real Bedford FC earlier this year
Investing $4.5 million in Bitcoin, which is considered the largest investment ever made in a football club in the United Kingdom outside of the professional leagues.
Peter McCormack has made it clear that this investment will not be used for player salaries, but will be held in Bitcoin as part of the club’s long-term strategy.
The crypto community has been enthusiastic about this news, with figures such as Michael Saylor acknowledging the importance of this movement.
Additionally, many fans have expressed interest in purchasing merchandise from the club, which accepts Bitcoin payments in its store.
Real Bedford FC continues to rely on the flagship cryptocurrency as a vehicle to achieve financial stability and achieve its sporting goals.
With the backing of the crypto community and a clear vision, the club hopes to continue climbing the ranks of English football until reaching the top of the Premier League.
