Peter McCormack tweeted that his soccer club Real Bedford has acquired 66.9 Bitcoin.
Announcement here: https://x.com/petermccormack/status/1815166633582956700?s=46&t=opFMGEQXdk09WvPsXf4z6g
Gemini founders Cameron and Tyler Winkelvoss recently announced they were investing 4.5M worth of Bitcoin in the club. So it appears that is where this Bitcoin comes from but overall the team hodls 82.7 Bitcoin. Not bad for a 9th tier league team.
I'm sure the financial rules are different in that league, but you could potentially make a really good return by holding the money owed on players' contracts in bitcoin and paying it out in fiat later.
Will they get a percentage of the club?
Yes they own equity in the club.
How much?
I remember Ryan Reynolds owns a club, too.
I don’t believe they said how much equity.
Bitcoin in, fiat out is alway a good strategy over the long term.
I love to see it. Was nice meeting Pete in El Salvador.
I think as bitcoins price grows, he will eventually be able to invest in more training, better coaches, better equipment and climb to the premier league! I love to see it!
That’s the plan as far as I understand it.
They'll need to stack while they're in the lower leagues, it's going to be expensive once they move up to the higher leagues, hopefully this kitty will appreciate at a rate that gives them the fire power to compete, if there's one niche where wages is stupid crazy outpacing inflation its a pro sports
The W twins, they are getting their fingers in everything.
This is amazing! Sports must be the first thing to profit from Bitcoin!