Lingerie Fighting Championships to Buy $2.23 Million in Bitcoin Inspired by GameStop

Lingerie Fighting Championships, an all-women’s mixed martial arts organization, has announced plans to acquire $2.23 million in Bitcoin over the next six months. The decision was inspired by the video game retailer GameStop's purchase of Bitcoin in late May. The organization's founder and CEO, Shaun Donnelly, cited GameStop's move as a significant factor in their decision to invest in Bitcoin.

Donnelly explained that Lingerie Fighting Championships has historically mirrored some of GameStop's strategies, benefiting from the retailer's stock performance. This observation led him to consider Bitcoin as a viable investment for the organization. The fighting league began researching the possibility of acquiring Bitcoin about a month ago, noting the trend of other public companies adding Bitcoin to their treasuries and experiencing value spikes.

Donnelly emphasized the importance of staying ahead of the curve in the rapidly evolving cryptocurrency market. He believes that if projections about Bitcoin's future value hold true, there may come a point where it becomes difficult to enter the market. The trend of companies adopting Bitcoin as a treasury reserve asset was popularized by Strategy, a $64 billion giant that saw significant success after adopting Bitcoin in 2020.

Lingerie Fighting Championships is not the only non-crypto native firm to add Bitcoin to its balance sheet. Various companies, from cannabis firms to distilleries, have followed suit. Donnelly consulted with close friends before making the decision, acknowledging that while it may seem like jumping on a trend, it is also a strategic move based on the belief in Bitcoin's future potential.

Donnelly referenced projections suggesting that Bitcoin could surpass $1 million in value by 2035, a date significant for the fighting organization as it sees its BTC treasury as a 10-year play. However, it is important to note that the last of Bitcoin’s 21 million supply is expected to be mined closer to 2140. The organization considered other cryptocurrencies but believes that none have the same power as Bitcoin in terms of price action and marketing attention.

Lingerie Fighting Championships is open to taking sponsorships from crypto companies, including meme coins, and is looking to accept crypto as a payment on its website. The organization's journey to this point includes a history of successful events and a public listing via a reverse merger with Cala Energy Corp. However, the merger did not deliver on all promises, leaving the organization in a challenging position.

The sole remaining lender, Octus Fund, helped Lingerie Fighting Championships raise the $2.23 million to buy Bitcoin. The organization is currently focused on its upcoming fights in London and Cardiff but is open to raising more capital for additional Bitcoin buys in the future. Donnelly believes that the company's diverse revenue streams, including a YouTube channel with 837,000 subscribers, a touring show, and new broadcast deals, will reduce the pressure if Bitcoin's price were to drop.

However, not all companies may have the same privilege. Some experts have warned that firms may be forced to sell their digital assets at a loss to pay off investors. The core question remains: Can a public company withstand a significant drop in Bitcoin's value, as seen in the year after its peak price in November 2021? Donnelly is confident that Lingerie Fighting Championships' diverse revenue streams will mitigate this risk.