Bitcoin and football. Two terms that have a high search trending, though, not as yet, concurrently. For now, at least.
Unbeknown to so many football fans, the National League has become a magnet for trailblazers and creatives. Rather like our colonial cousins, the US, at the beginning of the 20th century, it is a place where an entity, through one well-executed idea, can rise very quickly.
Real Bedford FC are proving this and it is one heck of a story worthy of its place in footballing folklore.
The Whys And The Wherefores
Every successful idea is sparked by a visionary and that is exactly what Peter McCormack can be described as. Until late 2021, he was merely a Bedford resident who hosted the globally popular podcast, ‘What Bitcoin Did’, before deciding to purchase then 10th tier Bedford FC.
Ambitious? Maybe to some. McCormack, though, had a plan. From the 2022/23 season, the club underwent a complete rebrand, being renamed Real Bedford FC and creating a badge that included the Bitcoin logo and the text, “est. block 712003” which was in reference to the Bitcoin block height at the time of the takeover.
McCormack’s goal was well thought out and appropriately ambitious, despite some sceptical views. Firstly, he wanted to bring professional football to his hometown, while proving that a “Bitcoin Standard”; essentially holding an appreciating, non-inflationary asset could provide a small club with the financial muscle to bypass traditional billionaire, “sugar daddy” models of wealthy clubs.
As a result of leveraging a global audience of “Bitcoiners”, the club was able to secure lucrative, forward-thinking sponsorships that considerably exceeded the typical revenue model of a 10th tier club.
Immediate Impact Set Foundation For Success
Real Bedford dominated the Spartan South Midlands Division One, being promoted as champions during the 2022/23 season. At Tier 9 (step 5), the club repeated this at Premier Division level the following campaign, considerably overwhelming other clubs with the extent of their professionalism, which included a media setup that could stream matches globally.
At Tier 8 (step 4), the club dominated again during the 2024/25 campaign, winning the Southern League Division One Central title, fuelled by its self-sustaining resources which helped secure the signing of former Forest Green player Rob Sinclair.
👀 🏴☠️
— 🏴☠️ Real Bedford F.C 🏆 (@realbedfordfc.bsky.social) 9 November 2025 at 15:15
Currently, the club is competing at Tier 7 (step 3) in the Southern League Premier Division Central, cemented firmly in a play-off place, where they have comfortably been for most of the season, that could see them promoted to the National League South (Tier 6).
A Strategy Like No Other
This unprecedented success quickly attracted considerable attention. Indeed, having adopted a HODL tactic, this has inspired confidence and, where other clubs sell sponsorship in order to fund running costs, Real Bedford has kept the majority of its investment in Bitcoin.
Applying a long term view, this saw its treasury holding grow from 1.33 BTC in late 2001 to 82.7 BTC by late 2024 and during this time, saw Cameron and Tyler Winklevoss of Winklevoss Capital commit $4.5 million in Bitcoin to become co-owners of the club.
With this deal being finalised in February 2025, the surge in Bitcoin’s price to almost $100 saw the investment jump from £3.6 million to £5.1 million before even a single penny had been spent on infrastructure.
The capital was earmarked for long term projects including a new training centre, a football academy and a considerable youth and women’s program, aligned with the club’s model of ambitious and progressive sustainability.
In early 2025 there were also merger talks with Bedford Town FC (both in Tier 7) aligned with McCormack’s vision of creating a ‘super club’, which would leverage Real Bedford’s digital capital and Bedford Town’s historic infrastructure.
Despite this though and positive talks, the club could not agree a deal prior to the deadline imposed by the FA.
Ultimately, Real Bedford FC has served as a case study for financial analysts that its model can be recession proof, with its volatility resistant war chest and challenge the sustainability of every debt-laden club in the EFL and Premier League. It’s fair to say McCormack’s vision is not only ‘mooned’ but it’s “shooting for the stars”.
Matt Tomiak