With the Bitcoin price showing major strength and trading around $68,000, British football club Feal Bedford FC announced the purchase of an additional $4.5 million worth of Bitcoins. This comes at a time when big corporations are willing to add BTC as part of their Treasury.
Real Bedford FC Makes Fresh BTC Purchase
In the late hours of Sunday, July 21, Bitcoin maverick and Real Bedford Chairman Peter McCormack announced that the football club had acquired an additional 66.9 BTC for $4,500,420.69, averaging approximately $67,220 per Bitcoin.
With this, the club takes its total Bitcoin holdings to more than 82.7 BTC, acquired for a total investment cost of roughly $5.37 million with an average price of around $64,925 per Bitcoin. McCormack said that from the total holdings, the club will reserve 15.8 BTC for all football-related matters. The rest of the Bitcoins will move to Real Bedford’s Treasury. MicroStrategy Chairman Michael Saylor was quick enough to appreciate this move on the X platform.
Real ₿edford 🧡
— Michael Saylor⚡️ (@saylor) July 22, 2024
Earlier this year in April, Gemini exchange owners Winklevoss Twins purchased a stake in the British football club by investing $4.5 million in Bitcoins, thereby making them co-owners along with Peter McCormack.
Also Read: Expert Predicts BTC ATH Likely Near Bitcoin Conference
Bitcoin Corporations Continue Bitcoin Acquisition
Top public corporations across the globe are now doubling down on their BTC acquisition strategy thereby making the asset class part of its treasury. Japan’s MicroStrategy – Metaplanet – has continued its ritual of making Bitcoin purchases every Monday. Earlier today, it purchased an additional 20.38 BTC taking its total holdings to more than 104 BTC.
*Metaplanet purchases additional 20.38 $BTC* pic.twitter.com/xt1AjSWPNL
— Metaplanet Inc. (@Metaplanet_JP) July 22, 2024
Other public-listed firms in Asia have also been adopting Metaplanet’s Bitcoin strategy. As per reports, Hong Kong-listed firm Boyaa is now planning to add an additional $100 million worth of bitcoins to its Treasury.
Some big, true news heading into @TheBitcoinConf week – proud to now have HKSE listed company Boyaa as an investor in @UTXOmgmt Bitcoin Ecosystem Fund. Boyaa is upping its commitment to the BTC eco in partnering with UTXO & purchasing an additional $100MM in BTC for its treasury. pic.twitter.com/w6r5GjQNHs
— John Riggins (@thebitcoinconf) (@DistRiggs) July 20, 2024
Bitcoin price has continued to show consistent strength while absorbing the selling pressure from the Mt. Gox redistribution. BTC can eye upward gains with more corporate participation. All eyes will be on the Bitcoin 2024 Conference ahead this week.
Also Read: Bitcoin Price Analysis As Smart Money Continues Buying Spree; Is $75k Next?
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
