Technology

Gemini Co-Founders Inject Bitcoin For Stakes In Bedford FC – Crypto News

Published

11 months ago

April 13, 2024

Dripp

The Winklevoss brothers have invested $4.5 million of Bitcoin (BTC) into Real Bedford Football Club (RBFC), a move that makes them co-owners with Peter McCormack.

Bedford FC Eyes Premier League Ascension With Bitcoin Injection

Cameron Winklevoss says the trio is trying to create the first-ever football club powered by Bitcoin.

According to the announcement from Gemini, the $4.5 million investment is the largest ever made into a football club in the United Kingdom outside of the professional leagues. One shared feature amongst Cameron, Tyler, and Peter is their dogged interest in BTC. Peter is well-known for his podcast “What Bitcoin Did.”

Together, the trio is positive in Bitcoin’s capacity to help supercharge RBFC’s quest to make it into the Premier League. At the same time, the investment underscores Gemini’s long-standing relationship with RBFC as the former was announced as the club’s sponsor as far back as 2022.

Today, @tyler and I are excited to announce that @winklevosscap has made a $4.5M bitcoin investment in @realbedford, becoming co-owners alongside @PeterMcCormack, and creating the first-ever football club powered by bitcoin. Why did we make this investment? A few reasons:

Peter…

— Cameron Winklevoss (@cameron) April 12, 2024

In line with the new development, a Bitcoin treasury would be established to secure the club’s long-term ambitions. A new training center and a football academy will equally be launched to nurture local talent.

The alliance will also improve continued support for girls’ and youth football. Lastly, there would be an increase in funding for Bedford FC’s hardship fund, which ensures that no child in Bedford misses out on the opportunity to play football due to economic constraints.

Crypto Founders Diversifying Investments

The noble investment from the Winklevoss brothers, which underscores BTC’s increased adoption and utilization, also demonstrates an increase in investment diversification among crypto founders.

Precisely, Tyler and Cameron are now delving into the sports industry. Similarly, Singapore-based crypto firm BingX signed a deal to sponsor a part of football giant Chelsea’s jersey in January. This meant that the new jersey would have a BingX logo on its sleeve for the rest of the season.

Other crypto firms have recently developed a strong interest in Artificial intelligence (AI) as well. Blockchain startup Flare Network is pursuing the integration of AI into its system to facilitate collaborative artificial intelligence across different applications.

In no distant time, the crypto industry is likely to see more founders and their companies diversifying into other sectors that are directly unrelated to the financial industry.