Real Bedford Football Club, known for its strong support of cryptocurrency, has recently boosted its Bitcoin holdings significantly.
As per a post on X by club chairman Peter McCormack, the club acquired 66.9 Bitcoin at an average price of $67,220 per coin, totaling $4,500,420.69.
With this new acquisition, Real Bedford’s total Bitcoin holdings have reached 82.7 BTC, bought at a cumulative cost of around $5.37 million.
The club’s average purchase price now stands at approximately $64,925 per coin.
McCormack shared that out of the total Bitcoin holdings, 15.8 BTC is allocated for football-related operational purposes.
The remaining balance is securely stored in the club’s treasury, emphasizing Real Bedford’s strategy of integrating Bitcoin into both its financial and operational frameworks.
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Real Bedford FC is a non-league football club based in Bedford, UK. McCormack took over the team in 2021 and aimed to propel it into the football league.
This recent Bitcoin acquisition is in line with the club’s broader vision of leveraging cryptocurrency for stability and growth.
The proactive approach of Real Bedford FC towards cryptocurrency mirrors a broader trend among various organizations looking to diversify their assets and explore innovative financial strategies.
The club’s adoption of Bitcoin sets an example for other clubs and businesses contemplating similar financial avenues.
In the broader crypto landscape, businesses are also “stacking” Bitcoin in recent purchases, and sellers are increasingly hesitant to part with their holdings.
For instance, the Bitcoin investment firm Metaplanet recently bought 21.88 BTC on July 16.
According to analysts, Bitcoin’s price is currently only 8% below its all-time high, buoyed by the news of United States President Joe Biden stepping down as the Democratic party nominee for the 2024 election.
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