A soccer team bought by podcaster Peter McCormack has added to its Bitcoin BTC/USD holdings months after announcing Cameron and Tyler Winklevoss joined as investors.
Here's the latest on the Bitcoin soccer club.
What Happened: Operating as an English soccer team trying to reach the English Premier League, Real Bedford is one of the few sporting teams from around the world that have Bitcoin as part of its treasury.
The team's Chairman Peter McCormack recently announced the team added to its Bitcoin holdings.
"Real Bedford has acquired 66.9 BTC for $4,500,420.69 @ avg price of ~$67,220 per #bitcoin. As of today, @realbedford HODLs 82.7 $BTC acquired for ~$5.3m @ avg price of ~$64,925 per bitcoin," McCormack tweeted.
The pro-Bitcoin podcaster said 15.8 BTC is held in the float for "football matters" and the rest is held in the team's treasury to help with "the club's long-term ambitions."
The post from McCormack drew praise from MicroStrategy Inc MSTR Executive Chairman Michael Saylor, who is known for buying Bitcoin with the software company's excess cash and has become one of the largest Bitcoin holders.
Why It's Important: McCormack shared a post from Saylor showing Bitcoin outperforming other assets classes like the S&P 500, gold, the Nasdaq, silver and bonds from the date MicroStrategy bought Bitcoin through July 19, 2024.
"Football still doesn't understand this," McCormack tweeted with the chart from Saylor.
Benzinga recently shared that Saylor also took to X highlighting MicroStrategy shares have outperformed Nvidia since the company began buying Bitcoin.
"To outperform $NVDA – get on the #Bitcoin Standard," Saylor tweeted with the chart showing the returns of MSTR, NVDA and several other widely followed technology stocks.
McCormack shared that the 82.7 Bitcoin bought for $5.37 million are currently valued at $5.57 million.
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