In the modern world of sports and technology, a new player has come into play: Bitcoin (BTC). Cryptocurrency, once considered a niche investment for tech enthusiasts, has now made its way into the sports industry. The Winklevoss brothers, well-known in the crypto world, are targeting an English football club. With an investment of millions, they hope to lead the club to great success.
The Winklevoss brothers invest crypto in a football club
The Winklevoss twins, known for their early investment in Bitcoin, are taking a step towards combining Bitcoin and football. Cameron and Tyler Winklevoss have announced that they have acquired a stake in Real Bedford Football Club (RBFC), a football club from England.
The club is originally owned by Bitcoin podcaster Peter McCormack. He is a British podcaster and entrepreneur best known for his popular podcast “What Bitcoin Did.” The brothers are now officially co-owners of the team, which plays in the ninth division in England. The investment amounts to a hefty $4.5 million in Bitcoin. The financing was provided by their investment company Winklevoss Capital.
Cameron and Tyler Winklevoss, better known as the Winklevoss twins, are American entrepreneurs and investors. They are best known for their early involvement in Bitcoin and their legal battle with Facebook co-founder Mark Zuckerberg. In 2014, identical twins Cameron and Tyler Winklevoss founded the crypto exchange Gemini.
It is a strong attempt to further integrate crypto into the sports world. The English club is currently exploring the potential of Bitcoin for payments, sponsorship and fan engagement. The latter is something that many top European clubs have already started doing. FC Barcelona, PSG and AC Milan, among others, are active with so-called fan tokens.
Top executives have big plans for Bitcoin
The Winklevoss brothers’ money will be used to protect the club from long-term fiat currency dilution. McCormack said this in an interview with Cointelegraph. A new training center also needs to be built. Women’s and youth football should not be forgotten, says the entrepreneur.
“The investment helps with infrastructure. We need to grow this along with our ambitions,” said McCormack.
McCormack began his journey in 2021 when he bought RBFC in his hometown of Bedford. The city has almost 200,000 inhabitants, but the founder is incredibly optimistic for the club. Especially when it comes to technological development. The club already accepts Bitcoin for playing cards, merchandise, sponsorships and drinks.
The ultimate dream? Reach the top of the English football pyramid: the Premier League. The Winklevoss brothers conclude that this is the only place where you can keep up with the leaders.
Cameron Winklevoss said: “We’re not just investing in a football club, we’re investing in the dream of bringing Premier League football to Bedford.”