Real Bedford FC, a non-league football club, has made headlines with a significant Bitcoin acquisition. The club purchased an additional $4.5 million worth of Bitcoin, with the cryptocurrency trading around $68,000.
On Sunday, July 21, Real Bedford Chairman Peter McCormack announced the club’s acquisition of 66.9 BTC for $4,500,420.69, averaging about $67,220 per Bitcoin. This purchase increases the club’s total Bitcoin holdings to over 82.7 BTC, with an average price of approximately $64,925 per Bitcoin. Out of these holdings, Real Bedford FC will reserve 15.8 BTC for football-related expenses, while the remainder will go into the club’s Treasury. This aligns with the growing trend of corporations adding Bitcoin to their treasuries, a move praised by MicroStrategy Chairman Michael Saylor on X (formerly Twitter).
Corporate Bitcoin Acquisitions on the Rise
Public corporations worldwide are ramping up their Bitcoin acquisitions. Japan’s MicroStrategy, under the alias Metaplanet, continues its routine of buying Bitcoin every Monday. As of today, it has added another 20.38 BTC, bringing its total holdings to over 104 BTC.
In Asia, Hong Kong-listed Boyaa plans to invest an additional $100 million in Bitcoin for its Treasury. This consistent strength of Bitcoin, despite the Mt. Gox redistribution, signals potential upward gains as more corporations participate.
Real Bedford FC’s Innovative Financial Strategy
Real Bedford FC’s latest Bitcoin purchase underscores their innovative approach to financial management. Their investment strategy sets a strong example of corporate crypto adoption. The club’s decision to reserve 15.8 BTC for football-related expenses while transferring the rest to its Treasury demonstrates a balanced approach to leveraging cryptocurrency for both operational needs and long-term financial stability.
The Bitcoin 2024 Conference later this week will be a key event to watch, as it is expected to provide further insights into the growing trend of corporate Bitcoin adoption. Real Bedford FC’s strategic Bitcoin purchase and financial management could serve as a noteworthy topic of discussion at the conference.
