Peter McCormack Net Worth, Crypto and NFT Investments

Popular Bitcoin and football enthusiast, Peter McCormack has attained a prominent height in the crypto community. Since his exposure to Bitcoin, he has continued to turn heads with his “What Bitcoin Did” podcast and crypto-oriented initiatives with Bedford.

McCormack bought Bedford, an English football club in 2021, thereby raising questions about his financial standing. The news of the purchase spurred jubilations among Bitcoin enthusiasts and attracted several crypto partners for the club.

In 2023, the net worth of Peter McCormack is estimated to be around $1 million. The Bedford-born Bitcoin enthusiast acquired this fortune from his crypto investments and successful journalism career. Likewise, his stint in the advertising world also contributed a little to the figure.

Unlike many others, McCormack has been more transparent about his earnings. On numerous occasions, he revealed the amount of money he earns from his podcast shows.

Peter McCormack’s Net Worth

Year	Net Worth
2023	$1 million

Early Life

Peter McCormack was born on October 31, 1978, in Royal Berkshire Hospital, Reading, Berkshire. He grew up in Kempston, a town and civil parish in the Borough of Bedford, Bedfordshire. Details about his educational background are a bit sketchy, but he once confirmed that he dropped out of Buckinghamshire Chilterns University College in 2000. Before quitting the school, McCormack was studying Music Industry Management. In one of his interviews, he gave more details about his decision to quit the school, describing the course as “rubbish.”

No, my Dad was working in Cyprus so my Mum was with my Grandad and I was born in Reading but I have lived in Bedford my whole life.

— Peter McCormack 🏴‍☠️ (@PeterMcCormack) July 22, 2023

Later, he ventured into the advertising world and became the commercial director of Evolving Media. His stint with the organization provided him with exposure to the media industry.

Likewise, information displayed on his LinkedIn page indicated that McCormack joined Rapier U.K. around June 2009. He reportedly worked with the firm for about three years as its head of digital. While serving in this position, he co-founded McCormack and Morrison; an advertising agency in 2009. He also established Bantr.tv in October 2010. Eventually, McCormack drew the curtains with Rapier U.K. so as to fully focus on these projects.

Podcast/Journalism Career

A few years after stumbling upon Bitcoin, McCormack decided to abandon his Bantr.tv and McCormack and Morrison. Therefore, he ventured into crypto journalism in November 2017. Initially, he started with a blog and wrote various articles on Bitcoin development, adoption, privacy, and investment.

Later, he decided to convert the blog into podcasts (What Bitcoin Did and Defiance). With “What Bitcoin Did”, McCormack projected his views on issues relating to Bitcoin and politics. The podcast has more than 700 videos and 101,000,000 followers on YouTube alone. More so, the likes of Adam Back, Brian Armstrong, Vitalik Buterin, pro-Bitcoin El Salvador president Nayib Bukele, and other Bitcoin leaders have been featured on it.

Meanwhile, on his Defiance podcast, McCormack usually interviews guests on various issues of public interest. The podcast’s website describes it as a profit-oriented business. The platform produces documentaries. Around March 2020, McCormack, through Defiance, released two documentaries that projected him into the limelight of film production.

The two documentaries focused on the political and economic crisis in Venezuela. A month later, Defiance also produced a documentary titled “Europe Refugee Crisis – At Turkey’s Border with Greece.” The podcast exposes the ordeal of refugees on the Turkey/Greece border. Likewise, the project also covered the 2020 #ENDSARS protest in Nigeria.

In 2021, McCormack interviewed Nayib Bukele on his “What Bitcoin Did” podcast. The interview provided insights into the president’s strong faith in Bitcoin and its eventual adoption as a legal tender in El Salvador. Likewise, in the interview, Bukele discussed the state of the country’s education system, and the focus on volcano mining. The discussion also covered the state of the country’s infrastructure.

WBD363 – Why El Salvador Made #Bitcoin Legal Tender with President @nayibbukele. We discuss:
– Reality of being a dollarised nation
– #Bitcoin as legal tender
– Education and infrastructure
– Volcano mininghttps://t.co/F1mn84rPCX pic.twitter.com/LjeeNmdIWI

— What Bitcoin Did (@WhatBitcoinDid) June 23, 2021

Bedford

McCormack raised eyebrows in December 2021 when he acquired a non-league English Football Club; Bedford F.C. Following the acquisition, he became the chairman of the club. His first decision as the owner of the club was to rebrand its name to Real Bedford. While announcing the takeover, McCormack revealed his intention to oversee the promotion of the club to the pinnacle of the first domestic football league in the country, identified as the English Premier League (EPL).

Shortly after he acquired the club, Mc Cormack in an interview disclosed that Real Bedford had recorded more than $947,000 worth of sponsorship. He disclosed that his willingness to do “something good” for his hometown motivated his acquisition of the club. Also, McCormack vowed to adopt Bitcoin-oriented programs at Real Bedford, urging other Bitcoin enthusiasts to join him.

Eventually, Real Bedford began to earn the attention of crypto companies. Therefore, it secured partnerships with the likes of OpenNode and Gemini. The collaboration with OpenNode surfaced in January 2022, allowing the club to receive payment for its game tickets, club shirts, sponsorship, and other merchandise in Bitcoin

We are pleased to announce that OpenNode has joined as a sponsor for the @realbedford project.

OpenNode will be powering the #bitcoin aspects of our team, from accepting #bitcoin payments to tipping services.

Thanks @OpenNode gang ☠️⚽️🚀 https://t.co/Uh92aUtAGE

— Real Bedford FC (@realbedford) January 26, 2022

Similarly, its collaboration with Gemini also came into the limelight a month later. With the deal, the crypto exchange emerged as the official sponsor of the club.

3/ @realbedford: U.K. Football club owned by Bitcoin advocate @PeterMcCormack. We are excited to support a club that lives and breathes crypto. pic.twitter.com/DMDjAQLyI3

— Gemini (@Gemini) March 7, 2023

McCormack’s lawsuit with Craig Wright

The origin of McCormack and Craig Wright’s lawsuit can be traced to a 2019 discussion on the former’s podcast. Then, McCormack labeled Craig Wright as a fraud for claiming to be Satoshi Nakamoto. The journalist stated that Wright was only taking advantage of the anonymity of the Bitcoin creator to mislead people. Wright became infuriated with the comment and resolved to file a lawsuit against the journalist. In the filing, the acclaimed Bitcoin investor said McCormack’s words caused financial and reputational damage to him. Wright added that the “defamation” discouraged people from inviting him to speak at events and conferences.

After the Master pointed out the staggering costs proposed by the lawyers, not only the highest in any libel case but any case he has seen, he asked the question why are we going through all this, can’t Mr Wright just provide proof.

— Peter McCormack 🏴‍☠️ (@PeterMcCormack) March 12, 2020

Eventually, the lawsuit came to a logical end in 2022 after the U.K. High Court Judge, Martin Chamberlain ruled that Craig Wright submitted false evidence against McCormack. Although the judge admitted that McCormack could not prove that Wright was not Satoshi, he affirmed that Wright’s evidence about suffering financial damage was not tenable enough. The judge added that Wright intentionally put forward a fake case about his dis-invitation from academic conferences. Eventually, he awarded him £1 ($1.28) as nominal damages.

While speaking about the ruling, Wright argued that his evidence was misunderstood. Therefore, around July 2023, he approached the London Court of Appeal to seek more compensation from McCormack. To his greatest surprise, the appeal failed as the three judges in the London Court unanimously upheld the ruling of the High Court. Lord Justice Mark Warby in the ruling said “Where the libel was an accusation of dishonesty, the dishonest conduct of the litigation was relevant for that purpose.”

Wright was totally disappointed with the ruling. He lamented that the Court of Appeal failed to recognize the gravity of the damage caused by McCormack’s statement. According to Wright, the comment had a severe impact on him and his well-being. However, Rupert Cowper-Coles, a Partner at law firm RPC who represented McCormack, in a separate interview affirmed his satisfaction with the ruling.

Cowper-Coles noted that the Court of Appeal’s decision to uphold the £1 damages for Wright will serve as a precedent “that a claimant won’t be compensated for a reputation they don’t deserve.” Likewise, in a tweet, McCormack aimed jabs at Wright. The Real Bedford owner said, “We must continue with our support for others caught up in this, including our brother Hodlonaut.” The tweet was in reference to Wright’s lawsuit against Magnus Granath also known as Hodlonaut.

Now we must continue with our support for others caught up in this, including our brother @hodlonaut.

— Peter McCormack 🏴‍☠️ (@PeterMcCormack) July 26, 2023

Is Peter McCormack Pro Crypto?

Despite joining the crypto world by accident, McCormack has already become one of the most revered personalities in the industry. His first exposure to Bitcoin emanated in 2013, though he knew nothing about it then. Three years later, he hopped on the crypto train fully after the closure of his advertising business.

Then, McCormack thought of what he could do after closing down the firm and eventually decided to try Bitcoin. Initially, he was not really serious about the endeavor but read various contents relating to the asset. Surprisingly, it didn’t take much time before he got lost in the sauce and eventually chose the path of crypto journalism.

McCormack’s decision to venture into the field was driven by his vision to educate people about the potential of crypto. Just like other enthusiasts, he strongly believes mainstream adoption of crypto and blockchain can only be actualized through mass education. This was why he had to kickstart his journalism career by writing varieties of articles on crypto-related topics on his blog. Later, he rebranded his blog into a podcast and YouTube channel.

Today, his “What Bitcoin Did” podcast has grown to become one of the biggest crypto online shows. As the host, McCormack usually features professionals in the world of crypto, finance, economics, and politics. The tri-weekly podcast features topics about Bitcoin and other spheres of finance to educate its subscribers.

According to McCormack, “The main theme of the podcast is the issues and matters I am wrestling with myself. So, it is not just about Bitcoin, but it is about Bitcoin and associated topics. We discuss topics that are asymmetric like politics, economics, etc. It has always been a podcast about the things that I really care about. I have never really made it for anyone else. If I find a topic interesting, then I will cover it.”

Since instigating the Bitcoin program, McCormack’s reputation in the crypto space has received a huge boost. Today, he is well-known as one of the most successful journalists, with most of his income coming from his podcast and YouTube channel. Remarkably, thousands of subscribers are glued to the podcast to stay abreast of every topic discussed.

During the show, McCormack sometimes advised investors to shun conventional investments like stocks and invest more in crypto. His stance is that only crypto investments can bring greater returns. Nonetheless, these views are usually challenged by some of his subscribers.

Meanwhile, McCormack’s decision to create an exciting documentary on the adoption of Bitcoin in El Salvador by President Nayib Bukele demonstrates his journalistic prowess. In a bid to come up with detailed content, he stormed the country and interviewed almost everyone that influenced the adoption, including Bukele. Eventually, the documentary became a big hit when it was released for public consumption.

As his popularity began to spread like wildfire, McCormack attracted the attention of numerous publications. In recent years, he was featured in interview shows, including FT’s Money Clinic podcast. In one of the interviews, the crypto journalist was asked if Bitcoin can fix American politics. He said that is unlikely to happen.

“This is where you get into the world where Bitcoiners will say “Bitcoin will fix everything”. I am not sure Bitcoin can fix human nature. Now, what can Bitcoin do? Well, you have to get to that tipping point where we have enough money in Bitcoin. If enough of the economy is controlled by Bitcoin in a circular economy, that perhaps could deform politics in several ways. I would love to see it happen, but it is highly unlikely,” McCormack maintained.

Nevertheless, he is optimistic about the potential of Bitcoin to transform the mindsets of people about money, power, politics, and economics.

“What Bitcoin can do is shifting mindsets. I have changed fundamentally due to Bitcoin. For example, I don’t vote anymore because I don’t believe in that two-party system in the UK. If I was to vote, I would vote libertarian even though I struggle with the idea of a completely libertarian society. At the same time, if Bitcoin makes us rethink money, power, politics, and economics, then perhaps it can have a positive influence.”

McCormack has continued to demonstrate his admiration for Bitcoin with his football club, Bedford. In recent years, he leveraged the club to commence a Bitcoin education project for supporters. His vision with this initiative is to expose all Bedford supporters to the potential of Bitcoin.

“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.

3/ So what is the plan? To get our club into the Premier League, 9 promotions…
…I am a bitcoiner, we aim big. If we can separate money and state, we can get a football club into the Premier League. pic.twitter.com/uQu4i0l90v

— Peter McCormack 🏴‍☠️ (@PeterMcCormack) December 16, 2021

Similarly, the club also collaborated with Bitcoin mining firm, Compass Mining, and has started supporting open-source development.

Crypto and NFT Holdings of Peter McCormack

McCormack’s crypto portfolio is worth $500,000. He is one of the early investors in Bitcoin. In an interview with FT’s Money Clinic podcast, McCormack reflected on how he was influenced by his friend to buy Bitcoin in 2013. He said; “the reason I got into bitcoin was back in 2013, one of my friends came round and said he’d found this new website called Silk Road. To buy your weed, you had to have this thing called Bitcoin. So I bought some.”

Four years later, after realizing the true benefits of Bitcoin, Peter McCormack decided to buy more so as to soar his net worth. According to him, he invested $30,000 to expand his crypto portfolio, which eventually earned him almost $1.5 million at the end of the year.

“In 2017, I think I invested around $30,000. By the end of that year, [I was] close to $1.5m and I then proceeded to lose most of it again just by not really understanding the market at all and just thinking I was a genius,” he said.

Despite losing a significant portion of his Bitcoin investment, McCormack never lost faith in crypto. He holds the same belief as other well-known Bitcoin investors that the asset will yield returns that will surpass any other form of investment in the long term. While at the FT podcast, he hyped Bitcoin as the best form of money, reminiscing how he spent the asset during his visit to El Salvador.

“For me, it’s a store of value. But when I was recently in El Salvador, I was using bitcoin I have on my phone . . . to buy coffee, to buy breakfast, to buy dinner. So I was using it as a medium of exchange.”

Meanwhile, as the crypto market continues to grow, he diversified his portfolio by buying altcoins like ETH, Monero, Ripple, Dash, and many more. Nonetheless, Bitcoin and ETH constitute the larger portion of his holdings. According to sources, he holds several dozen of the two leading crypto assets by market cap.

In one of his recent interviews, McCormack confirmed that he has dumped crypto trading and adopted a “buy and hold” strategy amid the downturns in the market.

“I decided then to stop trading and took a very different strategy. I believe in bitcoin being the best form of money that exists, so I decided I’d put as much of my personal and business profits into bitcoin [as possible] and just hold it over the years.”

The “What Bitcoin Did” host is not really bullish about NFTs. He has, on numerous occasions questioned why people are coughing out hundreds of thousands of dollars to buy the collections.

I’ve never bought an NFT. I only buy bitcoin. I don’t have millions.

— Peter McCormack 🏴‍☠️ (@PeterMcCormack) October 4, 2022

Crypto and NFT Projects Featuring Peter McCormack

McCormack is yet to feature in any important crypto and NFT projects. However, his activities on Twitter recently attracted interactions from Wall Street Memes. This project is well-known for its memetic engagements on social media platforms. With the daily memes, the team behind Wall Street Memes has been staying ahead of trends in the evolving crypto world to drive financial innovation. This explains why many of its memes, particularly on Instagram, have featured activities of top crypto proponents like Nayib Bukele, Jeff Bezos, Elon Musk, and many more.

When will $PYPL accept Dogecoin? I have some calls expiring next week

— Wall Street Memes (@wallstmemes) May 16, 2021

Meanwhile, the ongoing Wall Street Memes’ $WSM presale has been a remarkable success since it was launched last May. With over $26 million raised, the token sale is defying expectations, positioning itself as one of the most exciting crypto presales in the market. Without any doubt, this landslide success has made the meme coin the talk of the crypto town.

Don’t forget that Wall Street Memes has become a strong movement on social media, courtesy of its over one million community members. The activities of this vast community with the ongoing presale have dominated every sphere of the Internet. Likewise, recent endorsements of Wall Street Memes by Jim Cramer, Elon Musk, and several crypto influencers have also heightened the excitement and confidence in $WSM.

Occasioned by the ongoing presale, $WSM is available for grabs at a cheap price. However, as the team looks to ensure the listing of the meme coin on tier-1 CEXs by September, it will certainly spike in price. Therefore, investors who find potential in the token should go for it before the end of the presale. You can visit wallstmemes.com to join.

Peter McCormack’s Net Worth – Our Verdict

Apart from being a crypto enthusiast and journalist, McCormack is a football fan. Most of his posts on Twitter are usually about football and Bitcoin. As a matter of fact, his admiration for football propelled him to buy the English soccer club Bedford FC. Since purchasing Bedford, he has continued to propel fellow Bitcoin investors and firms to invest in its activities. His vision is to leverage the investments to lure great players and managers that can take the team to the English Premier League.

However, his media career has only contributed little to his wealth. According to sources, he earns between $50,000 to $200,000 on his podcast shows yearly. While the figure is expected to rise in the future, there is no doubt that Peter McCormack has made the most of his net worth from crypto investment.

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