The Bitcoin treasury trend—popularized by many firms worldwide adopting Michael Saylor’s strategy—entered a new phase on Thursday.
Lingerie Fighting Championships (BOTY), a Las Vegas-based women’s MMA league, announced plans to acquire $230,000 worth of Bitcoin within the next 30 days and up to $2 million over the next six months.
The decision to add BTC to its treasury coincides with LFC’s first shows in the UK. LFC43: Sindependence Day 2 is set for July 4 in London and is already sold out. LFC44: Underground Knockouts follows in Cardiff on July 6.
The firm did not provide any explanation for its Bitcoin adoption in its press release. However, CEO Shaun Donnelly expressed that LFC believes Bitcoin has significant potential for growth, stating, “We wanted to get in while we still can.” He added, “Even if we can’t purchase a large amount, it’s better to be in the market than wishing we had gotten in when we could have.”
Several Bitcoin treasury firms have opted to scale back their previous businesses to fully identify as BTC companies, focusing on raising funds to purchase Bitcoin.
Lingerie Fighting Championships, meanwhile, seems to be taking a similar approach to Tesla by converting some of its cash holdings into BTC.
UPDATE: Included comments from Donnelly.
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