Prominent bitcoin investor and podcast host Peter McCormack announced in a lengthy threaded tweet on Thursday that he has purchased professional English soccer club Bedford FC and become its chairman.
McCormack, who grew up in Bedford, said his hope is to eventually get the team promoted from England’s lowly tenth division all the way to the Premier League.
He is recruiting fellow bitcoin investors and companies to contribute funds to lure better players and managers and quickly improve the club.
“I am a bitcoiner, we aim big. If we can separate money and state, we can get a football club into the Premier League,” McCormack said in one of his tweets.
McCormack said Bedford FC will operate as a “bitcoin club” that “operates on a bitcoin standard.” He added that Bedford would introduce a bitcoin education program for the club’s fans, and also support open-source development.
The club announced bitcoin mining company Compass Mining would be its first official partner.
Also on Thursday, cryptocurrency-backed group “WAGMI United” disclosed similar plans to purchase an as-yet-undisclosed, lower-tier English soccer club using crypto as a significant funding source, and eventually get it promoted to the Premier League.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
