British football club Real Bedford FC has added $4.5 million in bitcoins to their treasury investment. Michael Saylor praised the decision.
- Much of the BTC purchased goes directly to Real Bedford FC’s coffers.
- Japan’s Metaplanet announces the purchase of further Bitcoin, bringing total holdings to over 104 BTC.
- Corporate bitcoin purchases are increasing, with analysts expecting a new BTC ATH at this week’s Bitcoin conference.
British football team Bedford FC has revealed a $4.5 million acquisition of bitcoin as the cryptocurrency continues to surge in price and hits $68,000. This comes when big companies are increasingly looking to add bitcoin to their coffers.
Real Bedford FC Purchases New Bitcoin
Chairman of Real Bedford and Bitcoin guru Peter McCormack revealed that the football team had purchased an extra 66.9 BTC for $4,500,420.69, or around $67,220 per Bitcoin, in the late hours of Sunday, July 21.
With this acquisition, the club’s total bitcoin holdings now exceed 82.7 BTC. These were acquired at an estimated total investment cost of $5.37 million, with an average price per bitcoin of $64,925. According to McCormack, the team will set aside 15.8 BTC of its total holdings for all football-related expenses. Real Bedford’s Treasury will receive the remaining bitcoins. MicroStrategy chair Michael Saylor immediately recognized the importance of this action on the X platform.
Real ₿edford 🧡
Michael Saylor⚡️ (@saylor) July 22, 2024
In April of this year, the Winklevoss twins picked up a stake in a British football team. They paid $4.5 million in bitcoin for the purchase. As a result, they got to be co-owners, nearby Peter McCormack.
Bitcoin corporations keep purchasing bitcoins
Major global firms are currently speeding up their Bitcoin acquisition strategy, adding this asset class to their treasuries. MicroStrategy: Metaplanet, based in Japan, has maintained its Monday Bitcoin buying habit. It added 20.38 BTC to its holdings this morning, bringing its total holdings to over 245.992 BTC.
Metaplanet’s bitcoin strategy has also been adopted by other publicly traded companies in Asia. Reports say that Hong Kong-listed company Boyaa intends to increase the amount of bitcoin in its treasury to $100 million.
Despite the selling pressure from the Mt. Gox shake-up, Bitcoin’s price remains stable. Increasing corporate participation could see BTC’s value increase. This week, the Bitcoin 2024 conference will be the center of attention.
