Bitcoin (BTC) is becoming an increasingly interesting investment option for many institutional investors, as evidenced by the growing investment in spot exchange traded funds (ETFs). But not only institutions are showing interest in Bitcoin; even sports organizations are getting in on the act.
For example, the football club Real Bedford FC bought $4.5 million worth of Bitcoin. This equates to 66.9 BTC for a total of $4,500,420.69, with an average price of $67,220 per Bitcoin.
Why Real Bedford FC is Buying Bitcoin
The question naturally arises why a football club suddenly decides to buy Bitcoin. There is a clear reason for this.
The club is led by Peter McCormack, a well-known crypto podcaster. Since taking over the club in 2021, McCormack has laid out ambitious plans to promote Bedford FC to the English football leagues, with the Premier League as the ultimate goal.
This vision has led to a name change to Real Bedford FC and the adoption of Bitcoin earlier this year, as well as the backing of Winklevoss Capital, a household name in the crypto space.
Real Bedford FC’s investment has attracted a lot of attention within the crypto community. Michael Saylor, whose company MicroStrategy bought billions of BTC, praised the club for its crypto purchases.
Bitcoin could become a world currency
Billionaire Mark Cuban has spoken out about the future of Bitcoin. According to Cuban, the digital currency can become a global currency, given the major financial problems and hyperinflation in many countries. He argues that BTC can protect consumers from declining purchasing power, which could cause an explosive growth in the price.
Source: https://newsbit.nl/voetbalclub-investeert-45-miljoen-in-bitcoin/
