Football Club Boosts Bitcoin Holdings with $4.5 Million Purchase
Amid Bitcoin's strong performance around $68,000, British football club Real Bedford FC has added $4.5 million worth of Bitcoin to its portfolio.
On July 21, the club’s chairman, Peter McCormack, revealed that they acquired 66.9 BTC for approximately $67,220 each, bringing their total holdings to over 82.7 BTC.
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 indicated that 15.8 BTC will be set aside for football-related activities, while the remaining Bitcoin will be placed in the club’s Treasury.
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This acquisition brings their total investment in Bitcoin to about $5.37 million. Notably, MicroStrategy Chairman Michael Saylor praised the move on social media.
Earlier this year, the Winklevoss Twins of Gemini also invested $4.5 million in Bitcoin to become co-owners of Real Bedford FC, alongside McCormack.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
