As a researcher, I find the story of Real Bedford FC (RBFC) and its Bitcoin acquisitions truly intriguing. Having followed the cryptocurrency market for years and witnessed its growing impact on various industries, it’s fascinating to see a non-league football club in the United Kingdom embrace Bitcoin as part of its treasury strategy.
RBFC, a non-league English football team based in the UK, led by Peter McCormack, has recently boosted its funds by purchasing additional Bitcoin worth approximately $4.5 million or 66.9 coins on a Sunday night.
The football club obtained an average of $67,220 for each Bitcoin they purchased, adding approximately 82.7 Bitcoins to their reserve. To date, RBFC, or the “Bitcoin football team,” has invested a total of $5.37 million in building up its Bitcoin holdings.
Use of Bitcoin Holdings
The football-related initiatives of the club will be funded with 15.8 bitcoins from its reserves, and the leftover bitcoins will be employed to strengthen the club’s financial position.
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
Last year in June, RBFC’s chairman, McCormack, initiated the football club’s Bitcoin acquisition journey with the intention of rejuvenating the struggling Bedford team and town. By adopting Bitcoin, he aimed to attract the crypto community and expand the fan base for the club.
The team showed its commitment to Bitcoin by branding their jerseys with the BTC logo and the inscription “Satoshi” at the back, which are orange-hued shirts. They also accept Bitcoin as a payment method for all their merchandise sales.
It was anticipated, and indeed, the football club has piqued the crypto community’s curiosity. In April 2024, the Winklevoss twins invested $4.5 million. This investment came from the brothers via their company, Winklevoss Capital. As a result, they were bestowed co-ownership roles in the English club.
New Partnerships and Sponsorships
Approximately four months after the initial investment from the Winklevoss brothers, the sports club announced a new industry partnership. On July 1, Coinspeaker disclosed that RBFC had entered into a long-term sponsorship agreement with Gemini, the cryptocurrency exchange established by Cameron and Tyler Winklevoss. This deal strengthened the bond between the club and the crypto exchange founded by the Winklevoss brothers.
As an analyst, I’ve observed that RBFC, though currently a non-league football club, has experienced growing recognition over the past few years. Despite not reaching the same level of fame as renowned English football clubs like Manchester United or Liverpool, RBFC boasts a loyal fanbase and a significant community engagement.
The leadership at the club is renowned for their forward-thinking ideas and openness to adopting novel tech and tactics. Consequently, they didn’t hesitate to fully invest in Bitcoin.
In the South Midlands League’s 2023 season finale last year, RBFC emerged as the champions of the United Kingdom. The excitement drew a large crowd of supporters from various parts of the globe, with fans from cities like Vancouver and Beijing traveling to be present at the game.
Broader Context of Bitcoin Investments
Concurrently, the club made its newest Bitcoin acquisition, with this action occurring as institutional investors have shown growing interest in cryptocurrencies. Notably, “Asian MicroStrategy” Metaplanet revealed on July 22 that it had bought an extra 20.381 BTC, equivalent to approximately 200 million yen ($1.27 million), to fulfill its initial investment plan of holding 1 billion yen worth of Bitcoin.
A Japanese company currently owns a sum of 245.992 Bitcoins, which they bought for approximately 9.96 billion yen each (equivalent to around $63,250 per BTC). Following MicroStrategy’s lead in May, this Tokyo-based firm decided to adopt Bitcoin as their reserve asset.
Based on information from Bitcointreasuries.net, Metaplanet acquired its initial Bitcoin investment in April preceding the public declaration and subsequently augmented its Bitcoin stash.
Metaplanet’s stock price surged by 21% following the announcement of their new Bitcoin acquisition, according to Google Finance figures.
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2024-07-22 11:40