Bitcoin Investor Peter McCormack Buys UK Soccer Club, Has Big Plans to Improve It

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.