Last April, the Winklevoss brothers became co-owners of Real Bedford FC by investing $4.5 million in bitcoin. The English football club was originally bought in 2021 by Peter McCormack, known for being the originator of the podcast “What Bitcoin Did”. Now, it is the turn of Gemini, the exchange founded by the two twins, to join the football club.
Gemini is a cryptocurrency exchange platform founded by the twins Winklevoss in 2015.
After taking a stake in the Real Bedford club alongside Peter McCormack, it is now Gemini’s turn to support the club.
Indeed, our colleagues at TheBlock revealed that Gemini had signed a 5-year sponsorship deal with the club.
A deal paid in bitcoin (BTC)
In practice, the agreement will be paid in advance in BTC through the exchange platform. These funds aim to support the club and improve opportunities for children in the region.
So, the Real Bedford is probably the only football club in the world to hold a bitcoin treasuryThe aim of this maneuver is to protect against inflation.
“By integrating bitcoin into our treasury, we have achieved a return of +62%, thereby strengthening the club’s financial position and protecting our cost base against the recent surge in inflation.”
Mr McCormack said in a statement.
However, the amount of the deal between Gemini and the club has not yet been revealed.
For its part, the exchange platform recently reached an agreement with the American justice system as part of its Earn program. So, Gemini has agreed to reimburse its injured customers $1.1 billion.
