Investing in digital currencies may seem normal to many people, but owning a full-fledged football club is reserved only for the extra rich.
For Bitcoin bull, Peter McCormack, being a hardcore Bitcoin (BTC) investor is tagged by proponents of the new technology as an exclusive trait, and now, he has announced the acquisition of a local football club, Bedford FC.
While the details of the deal were undisclosed, McCormack is willing to make Bedford FC the exclusive club of every Bitcoin holder. This is because McCormack wants the support of the 150 million BTC holders to push Bedford up the ladder, through a series of 9 promotions to become a Premier League club.
Bitcoin investors, particularly those who tagged along early as McCormack believes in waiting out the impossibility as Bitcoin has grown from practically nothing to its current value of around $48,056.55.
He believes Bedford FC will need significant funding to attain the milestones set for the club, and based on partnerships secured with other companies, the team has chances to compete as an EFL League 1 club.
“Based on the sponsorships I have already sold and interests in our merchandise, our year 1 revenue could match a small league 1 club. We can therefore afford the best players and managers,” he said in his lengthy Twitter thread, adding that “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.”
While McCormack is looking to leverage the strength of the crypto community to promote the brand awareness of his team, other crypto outfits including FTX Exchange and Coinbase amongst others are leveraging the diversity in sporting teams to boost the awareness of their companies.
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