As a researcher with a background in finance and football, I find Real Bedford FC’s strategic investment in Bitcoin truly intriguing. With my extensive knowledge of both industries, I am particularly impressed by Peter McCormack’s bold move to acquire 66.9 Bitcoins for $4.5 million, averaging approximately $67,220 per coin.
The British non-league football team, Real Bedford FC, has generated buzz by investing a substantial amount, around $4.5 million, in Bitcoin (BTC). This acquisition includes the purchase of approximately 66.9 Bitcoins for this value. Peter McCormack, who is both the founder of the club and a renowned crypto podcaster, disclosed the transaction, revealing that each Bitcoin was bought at an average price of roughly $67,220.
With financial support from Winklevoss Capital and under the leadership of McCormack since 2021, Real Bedford Football Club harbors grand aspirations. McCormack’s goal is to elevate Bedford FC into the English Football League and ultimately the Premier League. This ambitious plan resulted in the club’s name change to Real Bedford FC and its adoption of Bitcoin earlier this year.
Currently, the club owns approximately 82.7 Bitcoins in their reserves, which they purchased at an average cost of about $64,925 per Bitcoin. However, not all of these coins are off-limits; around 15.8 Bitcoins are earmarked for football-related expenditures.
Real Bedford purchased 66.9 Bitcoins for approximately $4.5 million, with an average price of around $67,220 per Bitcoin. Currently, Real Bedford’s holdings include 82.7 Bitcoins, obtained for roughly $5.37 million, with an average cost of about $64,925 per Bitcoin. At present, there are approximately 15.8 Bitcoins set aside for football-related expenses, while the remainder is kept in our reserve.
— Peter McCormack 🏴☠️ (@PeterMcCormack) July 21, 2024
In the cryptocurrency sphere, this significant investment piqued great interest. Michael Saylor of MicroStrategy endorsed it through his “Real ₿itcoin Ford” remark, while Bitwise’s Hunter Horsley labeled McCormack as a “legend.”
As Bitcoin’s worth continues to climb, notably over the past fortnight, Real Bedford FC distinguishes itself as visionary in the realm of football by adopting this investment strategy. The earnings from this venture will be allocated towards enhancing infrastructure and fostering community projects, thereby securing the club’s progression and longevity.
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2024-07-22 16:08