Bitrabo Editorial
Real Bedford FC (RBFC), an English football club, revealed its purchase of $4.5 million in Bitcoin over the weekend as part of its strategy to reach the Premier League. The move was backed by Gemini founders Cameron and Tyler Winklevoss.
RBFC Boosts Treasury with 66 BTC
Chairman of Real Bedford FC, Peter McCormack, announced on Sunday that the club acquired 66.9 Bitcoin, increasing its total holdings to 82.7 BTC, valued at about $5.37 million.
The purchase was made for $4,500,420.69, with an average price of $67,220 per Bitcoin. Approximately 15.8 BTC, worth $1 million, will be reserved for football-related matters, while the rest will be held in the club’s treasury to ensure financial stability.
McCormack aims to transform RBFC into the first Bitcoin Club and achieve top-tier status in the league. The club has already experienced consecutive promotions in recent seasons but still has a journey ahead to reach its Premier League goal.
Winklevoss Twins Back the Bitcoin Club
Gemini, a crypto exchange, has been a sponsor of RBFC since 2022 and recently extended its sponsorship for another five years, supporting the club’s growth and community initiatives.
Cameron and Tyler Winklevoss joined as co-owners of RBFC this year with a $4.5 million Bitcoin investment, marking one of the largest investments in UK football clubs outside of professional leagues.
The investment is intended for long-term strategy and not player salaries, aligning with RBFC’s commitment to using Bitcoin for financial stability and growth.