Real Bedford FC (RBFC), a UK-based non-league football club backed by the Winklevoss twins, has made a significant investment in Bitcoin. The club, spearheaded by Peter McCormack, a well-known crypto podcaster, has purchased $4.5 million worth of Bitcoin. This move aligns with McCormack’s vision of using digital assets to support the club’s ambitious journey through the football ranks.
Peter McCormack, the club’s founder, announced that RBFC now holds 82.7 Bitcoins, valued at $5.37 million, acquired at an average price of $64,925 per Bitcoin. This strategic investment is part of McCormack’s plan to leverage cryptocurrency to fuel the club’s growth and success.
Real Bedford, located in Bedford, UK, was acquired by McCormack in 2021. His ambition is to propel the club into higher football leagues, a mission that requires substantial financial resources and innovative strategies. With a strong background in crypto and a robust network within the crypto community, including support from Winklevoss Capital, McCormack is well-positioned to achieve these goals. McCormack revealed that 15.8 Bitcoin is allocated for football-related expenses, while the remaining balance is securely held in the club’s treasury. This allocation ensures that the club can cover immediate costs while also maintaining a reserve for future needs.
In April, Winklevoss Capital, founded by twin brothers Cameron and Tyler Winklevoss, invested $4.5 million in RBFC. This significant investment underscores the growing intersection between sports and cryptocurrency. Following the investment, the Winklevoss brothers have taken on roles as co-owners of RBFC alongside McCormack, bringing their expertise and influence to the club.
The acquisition by RBFC is part of a broader trend of football clubs receiving investments or sponsorships from crypto companies and individuals. Several high-profile clubs have already ventured into the crypto space. Southampton Football Club signed a sponsorship deal with Coingaming Group, a cryptosports betting platform. Paris Saint-Germain partnered with Socios.com, a blockchain-based fan engagement platform, allowing fans to interact with the club through digital “Fan Tokens.” FC Bayern Munich entered into a multi-year partnership with Austrian firm Bitpanda. AC Milan partnered with the cryptocurrency exchange BitMex. Watford FC secured a sponsorship deal with Stake.com, a cryptocurrency sports betting platform. These collaborations highlight the increasing acceptance and integration of cryptocurrency within the sports industry.
Real Bedford FC’s acquisition of $4.5 million in Bitcoin marks a significant milestone in the fusion of sports and crypto. This investment not only provides the financial backing needed for the club’s development but also positions RBFC as a pioneer in adopting digital assets within football. The use of Bitcoin and other cryptocurrencies in sports is still in its early stages, but it is rapidly gaining traction. By integrating Bitcoin into its financial strategy, RBFC sets a precedent for other clubs considering similar moves. The investment from Winklevoss Capital and the involvement of Cameron and Tyler Winklevoss bring additional credibility and visibility to RBFC’s efforts.
McCormack’s vision for Real Bedford goes beyond just climbing the football ranks. It includes creating a sustainable and innovative financial model that other clubs can emulate. The support from the crypto community and strategic use of digital assets will play a crucial role in achieving these objectives. In conclusion, Real Bedford FC’s strategic investment in Bitcoin reflects a forward-thinking approach to funding and growth. As the club continues to develop, its integration of cryptocurrency could serve as a model for other teams looking to harness the power of digital assets. This move not only enhances RBFC’s financial stability but also strengthens its position as an innovative leader in the world of football.
