Lingerie Fighting Championships Buys Bitcoin, Inspired by GameStop

Lingerie Fighting Championships (LFC) plans to acquire $2.23 million worth of Bitcoin over the next six months.
The firm’s CEO cites GameStop’s May Bitcoin purchase as inspiration, not the crypto-focused company MicroStrategy.
LFC is an all-women’s mixed martial arts league focused on authenticity in combat.

Lingerie Fighting Championships (LFC) has announced its intention to acquire $2.23 million in Bitcoin (BTC) for its treasury. The decision by CEO Shaun Donnelly, who founded LFC in 2013, is said to be inspired by the model of GameStop, which purchased $512 million in BTC in May 2021.

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Lingerie Fighting Championships Buys Bitcoin, Inspired by GameStop The LFC Story Getting Involved Inspiration vs. Trend Context: The Public Company Bitcoin Trend

Speaking to Decrypt, Donnelly explained the genesis of LFC’s Bitcoin strategy:

“There’s been a couple of times… we received a little bit of the tail end of it… So that’s always been a company that I’ve kept an eye on a little bit. When they made the announcement, it got my attention.”

Donnelly noted that LFC began researching Bitcoin treasury purchases around a month ago, observing other public companies expand their asset holdings into digital assets. However, he specifically highlighted GameStop’s purchase, smilingly admitting,

“It got my attention.”

The LFC Story

LFC, founded by then-writer and director Donnelly, started with events filmed in mockumentary style. The League transitioned from satire to genuine combat after gaining traction, eventually securing broadcast deals and establishing a public presence via a reverse merger.

Getting Involved

LFC will raise the necessary funds for the Bitcoin purchase with the assistance of a remaining lender from its initial financing group. While the organization maintains focus on its upcoming London and Cardiff events, Donnelly expressed openness to a) acquiring additional Bitcoin in the future, b) accepting cryptocurrency payments, and c) accepting sponsorships from crypto companies, including meme coins.

Inspiration vs. Trend

Donnelly acknowledged that while the move could appear opportunistic, he sees it as part of the inevitable adoption of Bitcoin anticipated:

“Is it jumping on a trend a little bit? Of course. But it’s also a belief that what’s happened with crypto, with Bitcoin specifically, and what we foresee happening in the future… it’s sort of just a natural thing to do at this point.”

He cited projections that Bitcoin could reach $1 million by 2035, an event coinciding with the timeline of his planned Bitcoin investment.

The fighter league dismissed other cryptocurrencies for reserve asset roles, stating they “don’t possess the same power that Bitcoin has”.

Context: The Public Company Bitcoin Trend

The move highlights an accelerating trend following MicroStrategy’s adoption of Bitcoin as a treasury reserve asset. This has led a diverse range of companies, from cannabis firms to spirits manufacturers, to add BTC to their balance sheets.

This BTC treasury movement comes despite significant price volatility. Following their peak near $69,000 in early 2022, Bitcoin’s price dropped over 76% in subsequent months, raising questions about the risk for companies holding such assets.

Donnelly downplays this specific risk for LFC:

“we won’t be reliant on Bitcoin… All the other revenue streams combined will be much larger cash flows than whatever Bitcoin appreciates to.”