The Business of Football and Bitcoin w/ Peter McCormack (BTC179)

Explore the fusion of football and Bitcoin with Peter McCormack, discussing his club’s success, the impact of new investments, and a Bitcoin conference, all in his hometown of Bedford. 

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 – Intro
00:07:09 – The strategic role of Bitcoin in advancing the success of a local football club.
00:10:00 – Insights into Peter McCormack’s journey of owning and promoting his football team.
00:15:52 – The impact of high-profile investors like the Winklevoss twins on the club.
00:22:58 – The significant developments in Bedford, including plans for a Universal Studios theme park.
00:28:42 – Highlights from the “Cheat Code” Bitcoin conference and its integration with local businesses.
00:45:01 – How the club manages competitive growth and future challenges with spending caps.
01:00:13 – Lessons on leveraging cryptocurrency in traditional businesses and community development.

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▶️ RELATED EPISODES:
– Michael Saylor’s Deep-Dive on Bitcoin Energy Misconceptions: https://youtu.be/BYk1Id2j7_8
– Bitcoin & Michael Saylor – A Masterclass in Economic Calculation: https://youtu.be/CTA3PKB4PoI
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(00:00) hey everyone this episode is brought to you by river the place that I personally go to securely invest in Bitcoin with confidence and with zero fees our Capital needs will never catch up with the compound annual growth rate of Bitcoin so essentially our treasury will always be ahead of our Capital needs and maybe in you know four years we’re in the National League and I need to spend you know a couple of million on infrastructure so that takes me down to 18 million and maybe the next year another couple of million maybe that (00:30) takes me 16 million but Bitcoin does another run and maybe that 16 becomes 60 million you know just a 3X at that point even a 2X becomes 40 million you 32 if Bitcoin reprices how I think it will do over the next two decades we will not spend at the rate that we will grow that treasury this is where I want to start though Pete for me when I’m looking and just kind of analyzing you and the football club and Bitcoin and all of this the thing that I think is at your core and uh is Upstream of all of this is this deep desire for (01:13) Bedford which to me is just kind of like I don’t know because for me like I I have the the hometown I grew up in and whatnot and you know I go back there rarely um and I just don’t have this I don’t know why but I don’t really have this uh connection to it even though I spent the first 18 years of my life in the same town and all that so I want to start there you you want to transform your hometown so like your love for your town this this is what I want to start off and just kind of understand like (01:42) what is driving this deep love for your hometown yeah it’s it’s all it’s a hard thing to answer Preston um because I don’t have a clear answer to it really um other than that I know my investment Bitcoin and timing there’s a lot of luck with it right um I could have discovered it four years later or eight years later and I discovered it at the time I did I Y loed in uh lost a bit made a bit figured it out and then ended up launching a podcast which enabled me to then understand how to invest in it (02:20) and then eight years later I’m kind of in this position where the the podcast is a platform um I’ve got some of these good connections people like yourself uh other people in the industry who are experts and companies and uh I’ve got a bit of capital myself and and I feel very lucky with that so yeah how do you pay it forward I’ve got yeah when I when I first started this podcast I emailed Jameson lob I’d made two episodes and he didn’t know who hell I was and he said come out to Raleigh let’s shoot some (02:50) guns and record a podcast and lots of people did give up their time they do give up their time to allow me to make the podcast and bring an income in and and then with the football club I’m asking every want to back it and come and visit us and watch games and buy jerseys and burgers and so if I’m like asking for so much I want to give something back and I think bedford’s the right size town where I can make a difference and I like living here I’ve lived here my whole life Preston apart from kind of like a year and a half at (03:19) two years at Union I’ve lived here my whole life so uh I’ve got everything I want in life so can I can I give something back and that’s what I’m trying to do this was the funniest part for me coming to Bedford so you had prepared all of us and you’re just saying oh yeah it’s and we we try not to swear on the show uh it’s Town Preston it’s top Town don’t worry like lower your expectations and all this and as an American I show up and I’m staying at this just beautiful hotel very nice (03:50) the Swan Hotel very nice hotel and there’s this gorgeous river right next to it there’s people out there doing crew right there on the water there’s these gorgeous Pasa walking the beautiful flowers like I’m just enamored by this town and I’m thinking what is he talking about now I I do realize you got Cambridge and Oxford that are like next door neighbors like right between or like Bedford sits in between these two like renowned towns and I guess is that why everybody says what they say about Bedford because for (04:22) me as an American this would be like a topnotch town in the US if you came over here and like walked around it crazy well I mean look I kept people to the good bits uh that kind of that kind of area of the Swan the river and the corn exchange but I also uh turned up on the morning of the conference and there’s a guy sleeping in a tent outside the corn exchange first time I’ve ever seen that the morning of the conference yeah and then I’m setting my car outside getting ready and I’m seeing go in and out of (04:49) the toilet outside I didn’t even know it was there and I you know witnessed the dealing but but like most of us watching this managed decline of our economic situation in the west well everywhere I I see it evidently in where I live I’m seeing the rise of homelessness I’m seeing the lack of uh capital and funds available from the council to spend on uh Park projects local sports the local community I’m seeing shots closed down regularly I’m speaking to people who are struggling financially so I think that’s all in the (05:25) back of my mind um and if anything the thing about B it’s not that it’s itself wrapped out it’s just a nothing town you know people don’t come to the UK and go I’m going to go to Bedford they go to London they might go to Cambridge or Oxford or bath or York they might go to Wales might go to Manchester or Le they go to a city nobody says I’m G to go to the UK and I’m going to go to Bedford it’s not a place you go to and so then when I say I think like that but now we have people coming to the UK and the (05:57) reason to is best which is hilarious yeah I I think it’s amazing and and I think that uh it speaks to you for people that don’t know you personally I’ve known you for quite a few years um for people that don’t know you personally you’re just this extreme you’re an extreme giver and you’re a person that just cares deeply about others and um I don’t know I I just see a lot of reflection in what you’re trying to do in the town and very admirable and just very exciting for what you’re you’re trying to do for it (06:27) and um I don’t I don’t know I just I think it’s a it’s a story about you that is that is very Untold and that people do not see on the surface they might see you uh you know online like poking different things but but as a person that knows you personally I can just say it’s it’s it’s really exciting to see what you’re doing Peter and hats off to you well you came I mean you saw it you you you came to a match day and I didn’t have any time to spend with you because I’m wanding around and checking on (06:55) everyone everyone’s having a good time everyone is okay trying to win a game yeah which we didn’t uh trying to make sure everything runs okay uh but yeah look I’ve been very lucky I I said to the conference when I gave my little short speech I I think Bitcoin represents so many different things to so many different people it’s hard to describe what it is you you can explain it as money but the more time you spend in Bitcoin I think the more time you realize what it is for you and for me I just see it as a as I said I see it as a (07:23) pay it forward technology if you can survive a uh your first Tour of Duty your first four years in Bitcoin and you can get out alive at the end of it you should be in a position whereby you can help others and that’s either with time or capital and I don’t have as much time as I was like but certainly have capital or access to other people’s Capital which I can use to try and help people uh where I live in Bedford and uh it’s very easy to move to a big city or to move to a beach somewhere and and and (07:52) help it and already thriving economy but uh you I want to help here I love it here I like the people here uh uh yeah I just want to do something K mate yeah all right so let’s talk about um so we were at the at the conference that you set up there in Bedford but you had a massive announcement uh Tyler and Cameron winkl Vos the winkl Vos twins invested in real Bedford your football team um and uh they invested 4. (08:22) 5 million that’s the number that I think is hitting the headlines but the number that I’m seeing when when I see this I’m saying hold on a sec if I if I know know Pete well he’s going to put that amount into Bitcoin let’s say we have a a 5x or a 7x run so that’s more like 25 to maybe 50 million in buying power in Just 12 to 18 months from now assuming this this bull market does what many of us expected to do in in the coming 12 to 18 months that that number the 4. (08:55) 5 is already insane for a club this size but if you five or 7x that uh it gets really insane like really fast and and the irony for me is the is the name of the conference over the weekend was cheat code and when I’m watching what’s happening play out I’m thinking holy cheat code uh for what you’re competing like your your uh the people that you’re competing with I don’t think can see what’s maybe about to play out here so break it down for us is that my assumption correct of how you’re looking (09:28) at the treasury and and walk us through some of this strategy yeah absolutely You’ you’ve nailed it look you and I know one thing is that the world is repricing in terms of Bitcoin I don’t want to spend Bitcoin right now I don’t want to spend the club’s Bitcoin I want to spend the pounds that it brings in similar to how when I was in Lebanon when people have both the Lebanese pound and they have the the US dollar in their pocket and they go and buy coffee they give the Lebanese pound they don’t want (09:53) to spend the dollar because that’s holding value for them uh and that’s we’re in this world that’s pricing in terms of Bitcoin and when I first spoke to Cameron Tyler about this it was just over two years ago we were at um a conference in Texas uh I met up with them for a beer and I just said to them look I’ve got this idea uh I’d like to buy my local football club and get them in the football league so I explained to them the league structure and Tyler immediately said how do you get him in (10:20) the Premier League I was like okay that’s a different Prospect because um it gets it gets increasingly expensive of every League you go up in and you have to have infrastructure and you’ll need a stadium so I mean look rough number if I picked a number out of the air to take a team from the 10th tier to the Premier League I think is a 300 million pound project you might be a to do it for 100 150 I don’t know but I mean at some point you need a stadium that’s going to cost 50 million if you’re in the championship you’re going (10:50) to be spending 30 million on wages every time you want to have a go it it’s it’s an expensive project or you can invest a load of Bitcoin sit it in the treasur and if Bitcoin does what it says it will do then maybe you can do it that way so when we got to the point of raising because I essentially spent the last two years I think proving uh that I can run a football club and that I can understand how promotions yeah yeah and I was able to do it sustainably then that was we can come back to that that’s just using why (11:20) I always say cheat code um and I said we need to raise as much as possible and stick it in Bitcoin now with $45 million of Bitcoin sat in the nth tier of football about to go into the eighth tier of football we’re we’re the most well capitalized Club at that level in the country and if Bitcoin does what I think he’ll do over the next two years I think our Capital needs will never catch up with the compound annual growth rate of Bitcoin yeah so essentially our treasury will always be ahead of our Capital needs because yeah (11:54) we’re not going to get promotion every year PR Preston but take that back well I would hope so but let’s go on the low end say say Bitcoin does a Forex in this cycle and we have 20 and maybe in you know four years we’re in the National League and I need to spend you know a couple of million on infrastructure so that takes me down to 18 million maybe the next year another couple of million maybe that takes me down to 16 million but Bitcoin does another run and maybe that 16 becomes 60 million you know just a 3X at (12:27) that point even a 2X becomes 40 million you 32 and then the next year I might need a couple like the math in my head is is that I think if Bitcoin reprices how I think it will do over the next two decades we we will not spend at the rate that we will grow that treasury based on even a decline in compound annual growth rate so that’s my thesis yeah now alongside that to make that work over the next two three years I want the football club to be sustainable live within its means and still get promotions now we’ve done that for the (13:01) last two years and we’re an expensive Club to run compared to other clubs at this level we are a very expensive Club to run I mean my budget for next year in step four is going to be about £600,000 across the whole club there will be clubs with budgets probably anywhere ranging from 100,000 to maybe 400,000 what’s driving yours being so high um we always want to have a competitive playing budget so I kind of of estimate what I think the top budgets will be and make sure we have one there so we can compete we don’t want to (13:33) overspend there uh and we’re doing that for men’s and ladies football at the same time um so we have high budgets uh we also stream all the games I mean that’s a 60,000 of year investment okay um we have lots of infrastructure requirements I mean we spent £40,000 in the ground this year just alone on putting in a stand um in changing the walkway yeah there will be more requirements to do that every year because every division you got up you have something called a ground grading whereby you have to do certain (14:05) improvements so there’s costs that will be going into that um will those costs keep going into the to to the pitch that I saw yes until until we have the new location ready to build on that but we still have to have that ground ready for each level whilst we’re working on another one you you can’t stop work so there’s costs that go into that we have uh we will have full-time staff next year a lot lot of clubs entirely relyant volunteers but we’re trying to build a project for years ahead so we need to (14:36) invest in the staff so we’ll have full-time staff working on the club uh we have a large outgoing in terms of stock which is part of the budget and and you know if we don’t sell all the all the stock that ends up sitting as uh you know within our p&l but it’s still something we have to spend money on we have to have the cash flow to do that uh we H will spend a significant amount on travel next year because we’ be going further distances so we’ll have to hire buses to take teams to games so when (15:04) once you start going through it or it all kind of adds up but where are we probably different from other clubs is we will invest in full-time staff we will invest in the streaming we do have this large investment in ladies football that we want to happen at the same time we do support youth football so we’ve built a model that works um I will if if we hit the crowds I think we’ll hit next year um and we do the merch sales I think we’ll do which is conservative we should be Break Even club and if we can (15:31) beat that again cuz we did that last year then great but um we’re not building a club for always for next season we’re build it’s a it’s almost like Michael sailor thing I’m building a club for the next hundred years a club that can get up there and compete and so then it’s important to be sustainable and that’s a lot of work but you know we’re managing it at the moment yeah yeah yeah talk to us about this dance that you had with Tyler and and Cameron because it happened for multiple years (15:58) and then you guys finally got a deal across the table so talk to us about how that initially unfolded yeah they’ve been very good um to me from the very start they they used to sponsor the podcast a while back um and when I told about the football project I mean they got it immediately when I explained it they’re like oh no I get this this is just like Bitcoin it’s a Grassroots movement yeah and when they said about the Premier League I kind of got it in reverse when I said well if you pitch Bitcoin 15 years ago and said (16:29) what it was trying to achieve everyone would say look you’re an idiot you’re not going to launch a decentralized currency that is going to Dethrone every fear currency in the world and become a global Reserve currency uh launched by somebody we don’t know and we’ll never find out who they are you people think you’re an idiot and the same with this saying we can take a football club from the 10th tier of English football with 40 fans to the Premier League again nobody’s ever done it and everyone (16:54) thinks I’m an idiot but when you when you merge the two together you you realize powered by Bitcoin and hard work is possible so they got it straight away and I kind of got why they got it afterwards um and look I think what they did and I haven’t had this confirmed I think what they did is they they agreed to sponsor the club to begin with almost like a test because this isn’t like a traditional investment when you invest in software there’s there’s traditional metrics you can look at in terms of (17:28) customer acquisition customer acquisition cost lifetime value you how yeah you look at the team you see how they’re doing you maybe start with a very small seed investment this is a very different investment this is doesn’t matter how good you are at running businesses do you know how to win a league and do you now to recruit the right manager so you can win promotions because most businesses are fairly simple if you’re good at marketing you create a good product you look after your stuff you should create (17:55) a successful business you can do all the business things right with a football Club but if the 11 players go on the pitch on that day don’t win enough games you don’t get promoted so I think I think if anything that they they did the sponsorship to help me with the cost of running the club and almost like a test to see if I can go and do this and look first season we won the league by nine points this season we’ve won it with a with a game to go it could be by you know five six points our ladies are top of the the (18:24) league they’re most likely going to win the league a week on Sunday I think it is um so I think I’ve proved I know how to to to get promotions or P just so people understand the context you started off at tier seven or six when you when you first bought the CL tier six of non- leagues I’ll explain the pyramid English pyramid you have the professional leagues which is the Premier League Championship League one League two and you have promotion and relegation between the two and that’s the professional leagues and then you have (18:54) what’s known as non- league and the first level of non- league is called Step One okay it’s the fifth tier we start in Step six which is the 10th tier okay and that’s a that is a that is a genuine pyramid where where once you get to the National League there’s only one National League Division but below that there’s National North and South and there you below that there’s you know four more divisions and so on so there is a pyramid up to the national league and it’s a straight line up if you (19:21) finish with if you finish top of most leagues you’ll go up and then depending on the league you’ll go up if you’re second or if you’re second to fifth or third to sixth you’ll go into a playoff it’s very competitive because everyone wants to win their league or if you you know on the lower budget end you’re trying to survive and so I I think I proved to them a few I think I proved that I can win promotions but I think I proved another things I can do it whil building a business which is sustainable and I (19:49) could grow the crowds so we our average attendance last season was the highest in our division and the same this season and so I think I’ve kind of proved I can do it and so when I went back to them and said okay I’m I need investment it I think it was it was a fairly quick decision it really the dance was about how much and and how to Value the club which is a difficult thing to do and again I said to them look if the investment’s too small now there’s a chance I’m going to come back at a later date and ask for (20:24) more uh sooner than than I’d want to if we raise this amount right now and can leave it in the treasury and not spend it for a couple of years I might never need to come back for more money they understood that they understood the strategy that they believed in it and wanted to be part of it so yeah it happened all fairly quickly it was really painless I’ve never raised money before and it was it was relatively painless well you had the right partner yes you had the right partner that understood what you’re trying to (20:53) do and they understand Sports as well yeah yeah yeah they understand Sports and understand the nature of sports and and and and I think they like the competitive side of this uh and I I think what will happen is down the road as this is more successful I think there might be other billionaires in Bitcoin who be like damn it I wish that was me I mean I’m already kind of feeling that way not that I’m the billionaire but um well we will press them one day I do so I’ve kept some Equity back because I (21:23) would like to do a fan uh sale at some point of like small amounts of equity so yourself anyone else who loves the club who wants to invest in the club and have just a small small amount of ownership can do so that’s something we’ll look to do at some point I think you’d have a ton of interest in that Pete I really do yeah we already do we we’ve got a form on our website that’s had over 600 inquiries what what really yeah yeah and some people want to write big checks yeah we’re talking tens hundreds of (21:53) thousands and we we just don’t have the ability to take that much capital on now because I didn’t dilute too much down yeah yeah you got to have control Pete you yeah I think that but there will be a time Beyond me and again it’s another interesting investment PR because I was talking to Tyler and Camera about this I said this is an investment for you whereby if we do get to the Premier League you’ll own you know a significant amount of equity in a highly valuable asset yeah in the most watch sporting (22:24) league in the world yeah for me it will never be about the money so I’m asking them to depart for money for something where I don’t care about the money I just about the the success Journey yeah the journey and yeah so if anything because I don’t need the money and that success is more important I probably will work harder at this um and I there’ll be a time Beyond me where I somehow I don’t think it’s the part of my inheritance that would go to my children I think it would somehow go to (22:52) the town in some kind of trust that the town owns and no individual owns I’ve got a really strange tangent but I think it’s connected yeah I read and I don’t know if this is rumor or real that Universal Studios is trying to set up uh a theme park in Bedford is this is this true this is true it’s also totally insane this is a really big deal in my opinion huge for for the club yes because it’s going to bring such a a different level of capital into the town and interest into the town and um what’s (23:29) the time is this like is this happening or is there just talk about this like where what’s going on they’ve bought the land so they bought 5 yeah they bought 500 Acres it’s about a 4minute drive from my house it’s just insane you crazy yeah so I got to tell you a story so uh there’s a there’s a theme park in uh in Pennsylvania it’s called Hershey like Hershey Chocolate the whole town the whole town revolves around this this Chocolate Factory a lot of it’s been outsourced out of town but what’s really (24:01) interesting is they’ve set up this massive Sports Complex in association with the park and so you’ll have uh like state championships and like all these types of events that happen at Hershey Park and I guess I’m looking at what’s happening with universal coming into the town and I’m looking at at your situation and how you guys are going to have to grow and it almost seems like there’s this there’s this situation that could be like mutually beneficial to each other if there’s somehow a way that (24:30) you could preemptively kind of work together or I I don’t know the universal stadium it’s got a good ring to it yeah you just got a yeah something that you just is this something you’ve thought about is this something that you’re entertaining is there any way you could have a conversation with them early on from like uh before they start work yes so so the stages of the project it was announced I think about a year ago I think you wrote in b was like what they got the land there yes so it’s (25:04) a good we’re a good location so where they bought the land’s really interesting there’s two uh main Motorway spines that go up through the country through the left and the right you’ve got the M1 which goes up towards Manchester yeah and then you’ve got the A1 and bedford’s really interesting in that we’ve got a bypass between the two about and we’re 40 minutes north of London and so we connect the country very well so what we have had around here is lots of logistics places pop up we have a huge Amazon (25:32) warehouse here because we’re perfectly located on that bypass is where they bought the land so getting that amount of land near London is very difficult but a train to Bedford from London is 40 minutes so if you fly into London we’re very easy to get to but we’re also good to get to from the north of England as well so we’re we’re in a very good location the talk is that they think it will take up to 10 years to to complete the planning and the infrastructure requirements and the build but think (26:01) where our football club might be in 10 years time you know we might be a professional team in the professional leagues by then I mean that’s certainly my hope so no it’s certainly on my mind um yes I want to speak to them uh I do have connections who can get me to talk to them I hope it’s something they’d be interested in I certainly think our investment from Cameron and Tyler win us uh gives me the credibility to sit in the room with them and say I think there is a potential relationship here but I (26:30) also think of it a little bit like the Raiders moving to Vegas MH if you support the Green Bay Packers I expect the Green Bay Packers is the whole town going to watch the Green Bay Packers when they play that’s pretty much it but I think with the Raiders I think a large number of people going watch the Raiders play people whove come to Vegas for the weekend and so I think ra Bedford has an opportunity of being that kind of team whereby we have the people from the town going but if there’s thousands tens of (26:59) thousands of people going to this theme park they may also choose to come watch a real beffer game over that weekend so no it’s definitely on my mind it it is an incredible gift for the town of Bedford it certainly puts us on the map um we have another place called Alton Towers which is a huge theme park there’s no reason to go to Alton unless you’re going to Alton Towers but now we might have two reasons to come to Bedford which is one to go to to do Universal Studios or two to go to um r bord another interesting fact I don’t (27:29) know if I saw you and showed you but but when you came to our football ground did you see the large aircraft Airship hangers no I didn’t see that they’re about a two-minute drive from the football ground that’s where they shot Batman oh wow really they’re the yeah they’re the largest indoor structure in the UK they built Gotham City in Bedford no way yeah there’s so many films that have been shot there you know I was joking on Twitter the whole time I was in Bedford calling it a resort town and (27:56) it might turn into a resort town with all this happening um and oh my God Pete the comments from it was it was hilarious the people from the US like oh wow that looks so beautiful the people from the UK I can’t believe you actually put that into writing that this is the comments were hilarious the funny thing is is you commented in a very British way it was always very British human and I was like I was just looking at that picture going Preston you’re not allowed to you’re not allowed to stand on that (28:26) grass the grass picture was hilarious and then your comment and then you replied back to me and I was like oh I think I did sort of piss Pete off Just a Touch by no you didn’t you didn’t all right well no you you embraced B everyone embraced it and and it was just it was really surreal and overwhelming to because we we do this job we make this podcast we we go to these events we we become a community of friends but to have everyone come to my place honestly it was really humbling so I was overwhelmed a lot of it I mean I I’ve (28:58) been to a lot of conferences Pete and I’m not just saying this cuz you’re a close friend I had so much fun there the pubs just like everything was in with within walking distance um and it was just everybody was having a blast you’re not I don’t know if you’re going to take this recommendation but the size was actually perfect because you can get to know the people that are there uh I think you had like 500 550 people at the conference and for me it’s it’s a lot of fun to have like real conversations with (29:27) people and not feel like you’re getting kind of pulled in you know numerous different directions but one other thing and I heard this from at least five people when I was there I’m so glad that the panels and like the conference was only one day and we had another day to just go have fun with everybody that was there and I I’m serious I heard that from so many people that it wasn’t like three days of like listening to panels over and over again so as far as say like so a lot of people said to us (29:56) things like do you know I like VI attendees cuz it’s not cheap to go I mean it’s £250 ticket ,000 if your VIP but they said the cool thing was I would go to a bar and there would be Preston pish or Jeff Booth and I could talk to them and they were real in front of me because if you go to bitcoin uh you Miami previously or Nashville now it’s a huge event and it’s hard to get that connection with people I think we’re going to make it slightly bigger I think we’re going to add a couple more couple (30:23) hundred more next year um and I think there’ll be I think it will sell out I think there a lot of there was a lot of yeah yeah but what was interesting is we did it last year as just a live podcast casually 150 people and took them to the football and then we realize the thing about the conference is nobody really wants to go to the second day they’re all hung over uh if you’ve got the opening slot on the second day you’ve essentially got this goost shift that no one wants to be at and so it’s really (30:49) difficult to get people interested in the second day but if the second day is a barbecue and beers and watching a game of football later in the afternoon yeah it’s just so much fun and I think that’s people had such a good time because they’re like this is so different and I think the conference scene will start becoming more experiential because there’s a couple I’ve been invited to recently it’s three days of talk so I’m like I I don’t want to do this I like I like Pacific because at Pacific they do (31:14) such a good job of the non-conference thing the outside with the basketball and the game and the bar I love that one and I you know I love Bitcoin magazines because it’s so big and everyone goes and I’ll be in Nashville but the ones which are just two three days of panels I’ve got zero interest because I personally I just want it more experiential now yeah well so much of it is just the networking that takes place and just meeting other people like-minded people that have a have a love for like what the whole movement’s (31:44) about being able to network with them and um you know dude it was so much fun oh my God was it fun um here’s some other cool things let me tell you some other cool things in the back of it so uh firstly the vegan next door uh the vegan coffee shop she had her busiest Friday ever and she decided to keep all the Bitcoin she said you know I’m Gonna Keep I’m Gonna Keep the Bitcoin I think this is the future she said everyone was so nice it’s the nicest event that’s ever been on and I I I think I want to (32:15) keep so she’s keeping all the Bitcoin she brought in there was a local restaurant called wagger MERS it’s a chain of uh Japanese restaurants they’ve emailed me and they said our restaurant was full of people where ra Bedford merchandise on the Saturday night and the atmosphere was great so they’ve invited me in for dinner on Monday to go and talk to them about it um there was another one the pizza place that did the pizzas outside um I had to settle my balance with them because we owe them for the VIP food they’ve asked for us to (32:45) pay them in Bitcoin and so we’ve got this kind of gradual orange pilling of of people in the town as well L Teta um the restaurant had their busiest night so I think I think a lot of people in the town who maybe were skeptical stting to realize I this is a really good thing for Bedford well no doubt and and I I like I paid for this uh sweatshirt I’m wearing right now with Bitcoin it was amazing there you go thanks for your set I want to talk a little bit about uh the business of a a football team yeah (33:19) specifically just like how like your thought process and and I don’t know if you’re comfortable sharing your thought process on this I’m assuming you will yeah just I would think it’d be so hard and time consuming to be able to audit all the players the upand cominging players like who I’m G to add to the roster whether I’m overpaying I think that’s the part that would be as a value investor as a deep value investor I’m thinking in terms of can this guy literally kick the ball five times (33:48) better because of the value that you’d pay than this other guy that I can get and like yeah performing this quantitative qualitative dance in a in a way that like hey maybe next year this guy’s just going to kind of suck for because he’s getting old or whatever like taking so many variables into account clearly you can do it you’ve you’ve done it very well for two two years in a row you were number one in in running a team right out of the gate I find that miraculous how do you go about that (34:21) process it seems like it’d be so difficult to to look across the whole spectrum of of players and being able to select and I don’t know well this comes down to the manager so so I will get a lot of plaudits in the Bitcoin World for for doing this yeah in the football world most a lot of the plaudits will go to the manager and I think I think it’s a job that both of us do together in that we have a very clear separation of roles and responsibilities he’s everything on the pitch which means players player (34:53) selection player acquisition player performance I don’t interfere with that at all the team is his team and I’m okay with that I’m everything off the pitch I’m the brand I’m the marketing I’m I’m the business side and we talk all the time we speak every day I mean we had a coffee this morning uh we we’re meeting up at 5:00 today we we speak regularly but I can talk to you in detail about the business side of it but in terms of the players and the the player acquisition that’s all the manager what (35:23) I can tell you is really interesting is how important they are so when I actually bought the Club I had them for half a season when under their old name bford FC and they were just below the playoffs and I changed the manager straight away and the new manager I came in I gave a really good budget I said just get us in the playoffs they recruited a bunch of players well paid very well paid players we had one player in the team who’s paid more than anyone’s been paid since but it didn’t work we didn’t getting the playoffs we (35:53) weren’t getting the results and and I realized this is this a lot harder than I think you can’t just throw money at it yeah and so at the end of that season when we became ra Bedford I I knew I had to change the manager I realized it is the manager that drives this you can have a great manager and no budget and and you won’t go up it’ be very hard but you can have a great budget and a terrible manager and you won’t go up you need a good budget and a manager knows how to spend it so I was told by a (36:21) couple of people to speak to this guy Rob Sinclair he was an ex-professional he played in uh in the professional leagues played for stevenage he played for forest green and I was told he’s trying to play expansive entertaining football and to dominate teams and he was running a team called anbury who didn’t have a budget and I went and looked at their results before he took over and after they took over and he changed the team around but he did without a budget and so when I met him I immediately knew who was the guy for the (36:50) job he was so professional um he was ready with a presentation to explain his strategy of how we win the league and I said to him tell me what you need need and he told me what he needs in terms of budget and infrastructure and I gave it to him and he went and won the league in the first season one of the most common questions I get asked from family and friends is Preston where do you personally buy your Bitcoin from and the answer is really simple I buy it on river. (37:17) com not only can you easily buy Bitcoin with zero fees on recurring orders you can have peace of mind knowing Bitcoin on river is held one to one in multisig Cold Storage all while being fully licensed and regulated in the United States plus their relationship managers are us-based and available by phone for you or your business additionally River has built their own infrastructure from the ground up which means they don’t rely on third parties to function like other Bitcoin exchanges River also just created a new feature not found anywhere else called (37:46) River link it allows you to send Bitcoin over a text message to easily orange pill your family pay a friend for dinner or send a gift there’s a new standard for investing in Bitcoin and river is set it go to river.com fundamentals and get up to $100 free when you sign up and buy Bitcoin that’s river. (38:08) com fundamentals and then I said the same at the end of that season what do you need to go and win the league and he told me we’ve just won the league again I already knew I already we did the work earlier I said if we win this league what do you need he’s told me and so I’ve got everything in place for next season but in terms of player budgets player selection player recruitment that’s entire him I don’t get involved in any of it at all all I do is say what budget do you need to challenge for the (38:33) title he tells me and I go away and I do all the business side of things to make sure he has that budget it’s a very clear separation I don’t criticize it yeah it was interesting Preston so we had a run recently we had a run of games where we lost uh to lever stock and we had three draws and we went from a position of of very clear eight points clear at the top of League to being in a position where if MK Irish won their games in hand they would have been Five Points clear and so what happens at that point people start (39:06) coming to me and said well why is Rob doing this why is he picking that person they’re being backseat managers and I said I don’t know that’s his decision I trust him we’re top of the leag love this yeah I love this Pete this is I I always had a saying whenever I was managing large teams give people if when charge people with responsibility they’ll take responsibility if you have the right people and then you can’t get in there and start messing with them right nope you cannot mess with them you (39:38) you hired the guy that you think is the right guy let him run with it he’s going to make mistakes you’re paying for those mistakes and he’s going to learn from those mistakes and if and if after a certain amount of time you’ve determined all right I let him do his thing and it just didn’t work out he was he was the wrong guy but you gave him a shot till to to go through the the cycles of learning making mistakes M uh you know making good decisions and and seeing the rewards of those that is the epitome of (40:10) leadership y I said Rob won The League last year by nine points we’re still top of the league now Irish have to win their games and they’ve got a hard run I’m not going to second I’m not going to question Rob yes because it’s down to him he’s we’re top of the league why are you questioning this we can’t win every game yeah and look at the games look when we lost to lever stock you know fair play they played well when we drew with poton we missed a last minute penalty and we dominated them (40:38) when we drew a bigles w they scored a last minute penalty and so and I think these football is a game of fine margins but Rob is such a professional over the space of a season we’re going to come out the good side of These Fine margins and we did we won the league with a game to go and uh yeah and I think that’s one of the things about becoming a and I think I one of the things I learned very quickly two things actually I’ve learned a lot but two things I learned I’ve got to come to terms with that it’s a weird (41:07) business in that you can do everything right and then you can lose a game and that affects the business and so I’ve emotionally separated myself and that become very stoic if we don’t get promoted fine we’ll carry on doing our job we’ll carry on gr football team not going to get over emotional about it unless we win of course then I’ll go crazy but secondly absolute trust in everybody in in their position absolute trust I it’s like Emma Emma was you met Emma how good is Emma Emma’s amazing (41:36) yeah Emma doesn’t know how good she is she she is unbelievable and she she L my by the way she loved my fake neck neck tattoo that I had for the day she comp I want you to get that for real she Emma Emma will fo me up and she’s like um I don’t know what to do about this what do you think I should do and I’m like I say it straight wa what do you think you should do she’s like and she’ll tell me I like we’ll do that she’s like is that the right answer I was like I don’t know go and find out (42:05) yeah or she’ll pH me up and tell me a decision she’s made and I’ve said you’ve made the decision I can’t change it you don’t even need to tell me this for our football club to keep growing it has to be able to run outside of me I need to focus on growing the brand focusing on the business all these other things just get on with it and and I’ve learned this with this business more than any other business I’ve run because it is so unique that you just have to put people in a position of authority and trust (42:30) them and say get on with it and let them make their own mistakes and and and football accelerated that because it’s such a weird business yeah wow what would you what would you say he thinks his secret is to hiring like what what’s he doing are you or are you just so hands off just like getting out of his way well I think I think that will CH that’s something that’s changing I think originally I think his secret to recruitment is just telling people what his Ambitions are and how he’s going to approach training Rob demands (43:05) professionalism from everyone even from me he will call he will pull me up if I’m not being professional enough with something absolute professionalism and commitment and so there are players out there who you consider maybe Journeymen who are happy to pick up their wage yeah they’re good players they’re naturally good players but they don’t care about going up too much further Rob wants to find young talented players who want to to play at higher levels that that will listen and develop and work with him who (43:32) will train twice a week train hard who won’t drink will focus on their Fitness so I think he he his uh secret was that is convincing people that under him he will develop them they’ll become better players I think we’re in this fortunate position now is that people want to come to us yeah people want play for a team you want to win leagues is it his humility as well it seems like he’s a very humble person that yeah yeah I think mainly it’s it’s not just people wanting to play for him he’s got to find (44:01) players that want to play and be professional in the way he is yeah so it’s a there are people there are people he wants to find but there are people out there who who want to find him as well yes yeah because they want to play at higher levels of football we’ve got so many good young talented players like Josh cetel on the wing Ben Stevens Ben Stevens last year he played for Kempston Rovers I think he scored 12 goals this season scored 40 in the number 10 position under Rob he will become a better footballer he will learn more and (44:36) so for for him being at our club is a great thing and so I think I think it works both ways but but with such high profile now people will want to come and play for us at first they didn’t take us seriously it was just this guy from Bedford big loud mouth saying I’m going to take this team in the Premier League they’ve seen back-to-back promotions growing crowds investment they know where’re we’re the real deal now and people will want to play for us Preston I love it I love it talk to us about how (45:03) the business side of this changes let’s say you get up into tier four or three from here uh what changes because I I was hearing from some friends that uh like once you get up to a certain level that uh the amount that you can spend on players is somewhat capped based off of the a multiple of your of your Revenue that’s coming through the club that way you just can’t like uh yeah bu your way up so talk to us about some of that and like what the challenges are and how you to navigate something like that yeah that’s the (45:35) financial fair play roles which a number of teams have been docked points at the higher levels for uh Everton noing Forest uh have been docked points and I think Man City are under investigation because they bent the rules uh it doesn’t affect us at our level but I don’t think about it anyway cuz we’re already sustainable based on our Revenue model this is why I focus so hard on the business CH to my son about this yesterday cuz he was asking and I said look there’s a film you need to watch glary GL Ross where we talked about (46:03) always be selling I’m always selling everywhere I go when people ask me about the club I say have you been to a game are you coming there’s a game on Tuesday come down I’m recruiting one person at a time around Bedford because people through the door every person who comes through the door on a match day means 12250 for the club and so when we get a crowd of 200 that’s 25,000 but you have base costs of a match day of paying the referees putting on the food so you may only make about ,000 profit with that whereas on the (46:36) game you came where we had a th000 people there and we took £18,000 take off our base cost and our cost of sales we made over £10,000 that day now if you could do that every day you every game you got 25 home games that’s £250,000 Revenue just on a match day um so so that side of things is why sustainability is so important because even with the investment you can’t just go and splash it on wages you you you’ll break the financial fair play rules and you lose points um so but there’s there’s a couple other things (47:11) that have become really important to the club in terms of growing as you got through the leagues that is really important but infrastructure is is is the the big one and there’s two big things on my radar one is our ground so I’ve talked about our ground we can sweat this asset up until three more promotions okay realistically if we keep getting those promotions we need a ground suitable for League football which itself will be a five to six million pound investment but we have to start that work now we have to be ready for when (47:44) we’re ready to be able to you have that ground ready um but there’s another really big change that’s going to come that’s really important is going from part-time to fulltime in the National League the one below the for professional leagues where rexen where rexon were when Ryan Reynolds bought them they will be fulltime and then below that National North and South you’ll have a mix of teams which are fulltime and hybrid and so hybrid would be your manager will be full-time and you maybe have a a squad (48:15) of 10 to 12 youngsters like younger players who are full-time and then maybe some youth team players you know teenagers and then you’ll have a core of first team experienced players who are maybe 25 to 35 years old who will only train twice a week on or maybe three times a week in the evenings because you got to think if you’re 30 years old you’re a very very good footballer you may have a job earning 60 70,000 a year and you’re also bringing maybe in 15,000 a year playing football you’re not going (48:47) to earn that as a professional footballer playing at this level and so what you tend to do you tend to find a lot of players they never reach their full potential because they’re never going to play in those divisions because they’re not going to risk the finances for their family so they tend to stay around this level I’m always working one season ahead so Rob always says one game at a time if I ask him about our Cup Final on Wednesday he’ll say forget that we’ve got a league game on Saturday (49:16) we’ll talk about that afterwards I’m the same with leagues I think one year at a time so all the work for next season’s done in terms of my preparation and we’re ready to go I’m thinking about the the season afterwards if we get promoted we up in step three and so I’m thinking can we be hybrid that year can we because not many teams do it at that level but if we are if Rob is full-time we got full-time youth players and we’ve got young players fulltime that’s going to give us such an advantage over (49:45) everyone else so how do I fund that how do I finance what’s the infrastructure for that and so there’s all these things of a growing football club that you have to think about to try and get in place and then to do that you have to be sustainable so okay if I want to have that full-time model what does it cost me okay well it cost me that then I need to bring in this much on revenue on sponsorship this much money in on uh merch sales and this much money on a match day so there’s like these competing things of what you want to do (50:14) but being able to afford to do it sustainably and it’s it’s it takes up a lot of my time luckily I have Danny on the podcast the show so I can do this because i’ I’d say Preston this this football club is % of my time now yeah yeah I would imagine so not to mention Danny’s incredible by the way yeah he’s amazing and and by the way Pete you said you’re always you’re always closing I’ll close this one for you this merch is amazing um we’ll have a link to the uh in the show notes for people if they (50:44) want to buy a Bedford hat or real Bedford uh shirt or sweat sweatshirt’s nice I like sweatshirts without the hoodie on I saw this I had I had to own it all right uh we by the way we usually sell about one item a day on the on the club shop we sometimes like at the start of the Season we’ll sell a bit more yeah but it’s one item a day since the announcement we’ve been selling uh 10 about 10 items a day that’s amazing yeah it’s just supports a sustainability of the club there hasn’t been a conference (51:15) that I’ve gone to that I hadn’t seen at least one person wearing real Bedford uh gear around you know around the conference um that’s kind of nuts really when you think about it because every conference I go to I think our merch is the most worn merch now I think so too I think so too has to be a little surreal people walking around with Bedford stuff on well we get I get photos so one guy was in a gym in London sent me a photo there’s a guy working out in one of our shirts one of our jerseys another guy at (51:46) the World Cup and so it’s starting to get spotted around the world which is the really thorre real thing yeah I’m want to go back to this uh additional um micro Equity offering that you had talked about earlier yes are you going to I would recommend and I’m curious if you would agree with this you got to strip the Voting Rights out of whatever additional Equity you’re going to issue here yes and I okay that’s good um and I think that a person that would I know personally if I was going to buy a small (52:19) portion of equity of Bedford I wouldn’t want to own any voting rights I want you to have the Voting Rights I don’t want somebody to step in there and start influencing the way you’re doing this so um well that’s the same with Cameron and Tyler as well really okay they they’re co-owners now yeah but they they don’t want to be making decisions they don’t want to have to vote they trust me it’s like Pete you get on with this and yes look a football club it kind of needs to be a dictatorship it really kind of and (52:49) and and it is at the moment I mean I have uh people’s opinions I I I seek but if we do this do this raid yes we would strip out voting rights uh I think there’s a lot of people who just want to be part of the project yeah it would be another way to stack more Bitcoin into our treasury But ultimately I think the big part of this is if it’s a thousand people 10,000 people buying tiny shares that’s a 10,000 person marketing department yeah yes who bought into the future of the club going round to I mean did you be (53:21) Edgar the guy from Minneapolis who had the flag so Edgar this is the second he came he runs a rail Bedford supporters Club in Minneapolis okay he gets 15 people together in a bar every game and watches the live stream that’s hilarious I’ve seen real Bedford uh I think there’s one up in Ohio too um I saw it on Twitter just like they had their own little Twitter group oh everywhere then all right so um I was having so much fun when I was there at the game I come back and I’m still watching a lot (53:56) of the antics you guys win the division after I got back to the States and I’m talking a little smack online with the other team so for people that aren’t familiar there’s two there’s two teams in Bedford Pete when you bought the team correct me if I’m wrong you were two divisions lower than the other team in town correct well yeah well actually kind of yes but within six months we were three below because they got promoted oh okay so you know I to buy them so I didn’t realize this so you (54:30) tried to buy the other team which was higher what happened with what happened with the negotiations why did that fall through and and so I went and told them I I made a very good offer an offer that you don’t get for a club like that way more than they deserve but because they were going they were about to get promoted and go three divisions were higher I basically offered what I thought the cost was for us to get there yeah it’s half a million pounds that’s a lot of money for a club at that level (54:55) but I also said to them look this is the plan I want to do I’m working on uh an investment with some very significant billionaires um I think I can take them to the football league so we had a long conversation uh they ultimately said no I think for a couple of reasons one they were going into uh a higher Division and I believed he thought he could do it himself I don’t think he fully understood the proposition but then I don’t think many people have I think a lot of people thought it is not a serious offer um but I think the bigger (55:27) issues were that I didn’t want to change their name they wouldn’t have been ra bifford they would have stayed as bifford town but I did want to change the colors and ultimately the current chairman uh I didn’t want any involvement for him it had to be a clean break uh you could be a fan you can come along but You’ have no involvement and I think that was difficult for him you know his dad used to be very much involved in the club very respect respected man in the town and cultiv it wasn’t right for him so fine that’s (55:53) that’s not a problem uh I think they were very surprised when we announced the buying of the next door neighbors uh and rightly were a little bit worried um I also think they thought I was trolling them calling it ra Bedford which I wasn’t because I think they read it as real Bedford I said they’re not the real Bedford but really it was just more of a joke because it’s a bit like Real Madrid but from Bedford so we obviously nothing like them so I thought that was kind of funny but yeah so that’s been a rival (56:27) that’s been bubbling and this season has been bubbling a lot more because it’s getting close to us being in the same division we’re confirmed to go up to theirs they have a chance for promotion in theirs if they do then they’ll go up to one above but if they don’t we’ll be in the same division crazy they BL you they’re very they’re very they very sensitive I mean I I kind of deserved it like I’ll admit if I get blocked by somebody I’ll admit I deserved what I was I mean I was (56:56) calling them babies I was saying that they were Watering your field with their tears I was telling them that they needed to have a box of tissue I’m sorry a pallet of tissues delivered to their front door so I deserve the block um but I find it I find it hilarious this rivalry and I think that it’s only heating up do you think they’re going to get promoted this year the other team they should do look if I was betting on it I would say yes but yeah winning the league is going to be hard for them now (57:22) they could do it but it’s going to be hard if not they go to the playoffs and the playoffs can be a lottery it’s one game uh you you don’t turn up and the other team turns up you can lose it and so in look interestingly I want them to go up uh for two reasons one if well one main reason I want to win the league next year and if we’re in the same division that will be a distraction that’s all people will think about we we’ll be competing on budgets it will be a distraction it will be a psychological (57:55) distraction so if they go up I don’t have to think about that I can focus and Rob can focus on winning that Division and then maybe we meet in the one above it but the one above it the level so much higher it would be a great rivalry but less of a distraction yeah so ultimately I want them to go up if they don’t Ian it’s going to be fire Preston I recommend you you fly over that yeah it will be a sellout it will be fire it will be noisy the whole town will come out and financially it’ll be great for both clubs because we can host (58:32) 1500 and we will and they can host 3,000 and I would not be surprised if you get 3,000 there in the town out for that game um the Rivalry is interesting because I think they’ve got a big problem everything we’ve been doing we’ve been working on for two two and a half years building a brand building a match day experience and I don’t think they realized the threat early on and they certainly do now and so now they’re trying to change things at their place but their Crowds Are Falling um their fans some of their fans (59:07) are disgruntled and the way I explained it I think they’re trying to turn around a tanker and catch up with a speedboat yeah and so at some point we will get ahead of them if they don’t get promoted I think we’re the bigger Club at that point we certainly got the bigger following we’ve definitely the Better Business model and we’ve certainly got higher revenues the only thing they may have us on us is crowds but I think that’s changing like I say the trajectory of our crowds is up uh We’ve (59:37) our crowd on the game when you were there was the bigger than any crowd they’ve had this season their average is higher than us our average is like 250 there is like 450 500 but more people are going to come next year for us because of the winkl Voss announcement because of what we’re doing are the twins coming over to a game I mean they’re going to have to at some point they’re going to have to have to come to the UK at some point for business so we’ll just time it yeah yeah yeah I mean (1:00:02) at at the end of the day they’re going to be forced to play your game which there’s no there’s no better way to define winning than having your opponent be forced to play your game right um and well every football club will have Bitcoin eventually and you know this is another funny thing Preston because a lot of people uh laugh at us and make jokes about us and make joke jokes about the Bitcoin thing so like I’m I’ll go to a club and they’ll they’ll make jokes we’re not going to accept your Bitcoin (1:00:30) or they call us the Bitcoin they just make all these jokes about us to with Bitcoin but I’m there thinking H that means you don’t understand it yeah that means right in front of you is this thing which can solve so many problems for you and you you don’t understand it you don’t take it seriously I’m sure if I turn around to you and say you know how’s your how’s your cost of living going what’s what’s happened with your groceries what’s happened with the price of fuel you feeling the squeezes if your (1:00:54) interest rates gone up on your mortgage you know if you got less disposable income each month they’re going to say yes to all of those and I’m okay well you should May yeah yeah in fact in fact my cost have been going down bro I don’t know what to do yeah and and so they’re making jokes and it’s like thing here that will help you uh so we’ve got this advantage over other football clubs because we’re aheading them with this they’ll all eventually get there uh and I hope it’s sooner rather than later but (1:01:24) yeah I just I just can’t imagine seriously how we started off the show I can’t even imagine 12 months to 18 months from now when these other clubs are looking at your treasury it’s going to be nuts it’s gonna melt their brains but it’s like brains if you look at what El we’re kind of the Grassroots English football version of El Salvador micro strategy yes everybody laughed at Bu The Press were writing articles saying he’s squandering there uh at their treasury he’s squandering the the country’s (1:01:54) finances he’s wasting on this Bitcoin thing Michael sailor yeah know there was a time I think his investment was down about a billion and people were laughing him and mocking at him look where we are now Michael sailor was right bu was right I know I’m right and it’s going to take that cycle when people say oh uh ask us about the $4 and a half million do investment I’m like God do you mean the $20 million investment they’re like what I said yeah that we haven’t spent any $20 million now and then at some (1:02:21) point be 40 million and then other big clubs big clubs up in the football league who are in debt and struggling are going to look at us and go damn oh yeah yo oops that yeah what is what is the size of the treasuries if if you had to guess on average for the now the the one that you’re promoting into you’re now in four um what do those treasuries look like just so people can kind of understand the Delta they probably don’t exist treasuries most clubs will limp through to the end of the season and I (1:02:54) know some some some clubs won’t be able to pay the wages and will lose players uh it’s it’s football is very much hand to mouth for a lot of clubs there are out a lot examples there’s a club called farham very good club run by a guy called Harry Hugo they’re similar to us they’re trying to do something different he’s investing but most clubs lose money or break even very few clubs actually make make money Plymouth are a great example outside of the Premier League and a lot of the top Premier (1:03:25) League clubs do most clubs are losing money and and limping through to the end of the season we’re finishing the end of this season forget the winlos investment we’ve still I think got four and a half Bitcoin I mean that’s you in English pounds that’s £225,000 just sat there that we can use at some point but itself might be6 700,000 next year we’ve still got I think about £60,000 in the bank we we are a comfortable Club that’s expensive to run because we’re a good business and we use Bitcoin and I’ve (1:03:56) given it all out there I’ve said to everyone here it is here’s the here’s the Playbook if somebody phoned me up from another comp and said listen I want to do what you’re doing like well I’ll take the phone call I’ll explain to them they won’t be able to do exactly what we’re doing they’re not going to get Gemini as a front of shirt sponsor and Galaxy as a sponsor and Ledger they’re not going to those things aren’t going to happen they’re not going to have bitcoiners fly from all around the the (1:04:17) world to their ground um there are four other Bitcoin clubs now I’ve spoken to all of them and they’ve asked for advice and the truth is is whilst they Bitcoin clubs we are the Bitcoin club and so they can use the benefit of power of Bitcoin but they’re not going to get the the community thing that I’ve managed to to get it’s just because I went first yeah but but if any club says and I’ll be I’ll be saying to them you need to get investment you need to build a sustainable model and if you have (1:04:45) Capital left over you need to put it in Bitcoin and forget about it you need to be thinking about 10 years from now not a year from now because that’s what I’m thinking about Preston I’m thinking about if we get in the football league and we need a 50 million P stadium and we want to have a go at the Premier League and that’s a 30 million pound wage Bill where do I get that from well hopefully it’s my treasury that sat there for four Cycles F Lord is this exciting stuff it is yeah will you be back oh God yeah you (1:05:14) tell me the dates I’d book it like that on the spot one other thing that for me was uh just amazing to see I’m there watching the game I look up and and you’re in the stands and and who’s right next to you your son I see your dad there at the game I’m leaving uh I’m catching a bus to head back into town and a Gentleman comes up to me and says oh Preston hi blah blah blah I’m Pete’s brother and and I have a conversation with your brother and for me it was just so amazing and just speaks to you your (1:05:50) family the town like the whole bit of it um I don’t know there so much more than that because it’s real community and so that you’ve got Emma her son Sebastian’s there he always helps there mark who’s a local bitcoiner he comes to every game and sells the merch for us Jim behind the bar Karen behind the bar there Al everyone is so invested in this personally and emotionally and people just want to help and be part of it it’s a family and it was just it was really inspirational just very simply it (1:06:23) was very inspirational to see and to just experience and uh I don’t know man uh you’re you’re a close friend of mine and I just can’t thank you enough for bringing me out to Bedford because I had a blast and this was an amazing conversation so thanks for making time well I’m one grateful for coming on your show you know I love your show and just appreciate you coming out I knew you were having a good time I could see it there was a moment there was a moment at the football I was from a distance I saw (1:06:50) you with your Bitcoin uh tattoo on your neck can you I remember who you were talking to you had this big gr and I was like and then I looked around and everyone was GRE I was like people are having a good time they’re going to come back yeah so thank you Preston I appreciate you’re a good friend as well I was I I felt bad after the I got back and I took a shower and the tattoo was gone it’s gone forever have you got no tattoos I have no tattoos let’s get you a tattoo next year H Pete uh we’ll have the link for (1:07:19) the for the merch anything link to your podcast anything else you want to highlight or make sure it’s in the show notes uh no just the football club promote that and uh just yeah appreciate you and thank you again and we’ll see you well see you before then but I’ll definitely see you in bed for next April yes sir I think I heard sailor say you know if it’s good for a million it’s good for 10 million if it’s good for 10 million is good for 100 million and if you take that concept and you start you (1:07:45) know applying $10 million per Bitcoin times 100 you start looking at those numbers they’re staggering that is financial strength because they have the ability to use those assets as collateral to generate a yield