Bitcoin Gets A Soccer Team: Investor Peter McCormack Acquires UK Football Club

Bitcoin BTC/USD advocate, investor and podcaster Peter McCormack bought U.K. soccer club Bedford FC to make it a football team with "Bitcoin at its heart."

What Happened: McCormack plans to put Bitcoin front and center of everything, including merchandise, sponsorship endorsements, educational material for fans and community, and facilitating open-source development, according to a Thursday Cointelegraph report. He also believes the team has an advantage since "where local teams can only tap into a local community of fans/companies to drive revenue, we have a global army of Bitcoin holders and companies who can get behind this.”

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McCormack also noted the team already secured various sponsorship deals that could lead to its first-year revenue matching "a small league 1 club.” This capital — he believes — could, in turn, attract players and managers from higher soccer divisions and accelerate growth even further beyond the team's current standing in the South Midlands League Division 1 to the Premier League.

BTC Price Action: Thursday afternoon at publication, Bitcoin is trading at $48,162.50 after seeing its price fall by about 1.79% over the last 24 hours.

Photo: Emilio Garcia via Unsplash