Key Insights
- Cryptocurrency exchange Gemini has signed a five-year sponsorship deal with Real Bedford football club, to be paid upfront in bitcoin.
- The agreement follows a $4.5 million investment by Winklevoss Capital in April, making the Winklevoss twins co-owners alongside Peter McCormack.
- Real Bedford FC fully integrates bitcoin in its operations, reporting a 62% return on its bitcoin treasury, and plans to use the sponsorship for a new training center and youth academy.
LONDON (MarketsXplora) – Cryptocurrency exchange Gemini has inked a five-year sponsorship deal with Real Bedford football club, deepening its ties with the bitcoin-focused English team, the company announced on Monday.
The agreement, to be paid upfront in bitcoin, follows a $4.5 million investment made in April by Winklevoss Capital, the investment arm of Gemini’s founders, Tyler and Cameron Winklevoss. This earlier move made the twin brothers co-owners alongside Peter McCormack, host of the “What Bitcoin Did” podcast, who acquired the club in 2022.
Real Bedford, based in Bedfordshire, England, has fully embraced bitcoin, holding its treasury in the cryptocurrency and allowing players and fans to transact using it. The club reports a 62% return on its bitcoin holdings, which it says has bolstered its financial position amidst rising inflation.
“This partnership goes beyond traditional sports sponsorship,” a Gemini spokesperson told MarketsXplora. “It’s about supporting a club that’s pioneering the integration of bitcoin in football.”
The deal will see Gemini’s logo featured on team jerseys and across the pitch. It also aims to fund a new training center and launch a youth football academy for underprivileged local children.
While declining to disclose the deal’s value, Gemini confirmed that Real Bedford remains its sole sports sponsorship.
The move comes as more sports entities explore cryptocurrency partnerships, despite recent market volatility and increased regulatory scrutiny in the sector.
McCormack, in a statement, emphasized the club’s commitment to bitcoin:
“By integrating bitcoin into our treasury, we’re not just protecting our finances, we’re revolutionizing how a football club can operate.”
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