Real Bedford Football Club, co-owned by Peter McCormack and supported by the Winklevoss twins, has struck a groundbreaking deal that will see the club receive payments in Bitcoin.
Gemini, a prominent cryptocurrency exchange, has announced a five-year sponsorship agreement with Real Bedford, a football club based in Bedford, England. The entire sponsorship amount will be paid in Bitcoin (
BTC
) and will be invested into Real Bedford’s Bitcoin treasury.
Embracing the world of crypto, the club has revolutionized its financial operations. This move allows players to receive payments in cryptocurrency, while fans now have the option to purchase tickets and merchandise using Bitcoin.
“By incorporating Bitcoin into our treasury, we have seen a remarkable +62% return, strengthening the club’s financial standing and safeguarding our cost base against the recent surge in inflation,” noted owner Peter McCormack in a statement.
The Bitcoin payment will be made in advance and is aimed at supporting the club in its quest for success and in enhancing opportunities for local youth. Real Bedford has set its sights on competing in the Premier League.
Real Bedford FC and the world of crypto
In April of this year, Cameron and Tyler Winklevoss, the founders of Gemini, made an investment in Real Bedford Football Club.
The twins injected $4.5 million worth of Bitcoin into the football club as part of a transaction facilitated by Winklevoss Capital, their investment firm. With this investment, the Winklevoss twins became co-owners of the club, alongside McCormack who acquired Real Bedford in 2022.
Recently, the Winklevoss twins made a generous donation of $2 million in Bitcoin to support Donald Trump’s 2024 campaign and voiced their disapproval of the Biden administration’s approach to cryptocurrency regulations.