Ninth-Tier Football Club Receives Huge Investment
Real Bedford FC, a non-league football club, has received a $4.5m (about £3.6m) Bitcoin investment from Winklevoss Capital, an investment firm owned by Cameron and Tyler Winklevoss, the founders of Gemini.
The twins will become co-owners of the club alongside cryptocurrency podcaster Peter McCormack.
McCormack bought the Welsh club in 2021 with the aim of transforming it into a Premier League club.
The injection of funds is expected to be used to upgrade the club's facilities, including the training ground and football academy to help secure the Red Dragons' future success.
Who are Winklevoss Capital?
The investment in Real Bedford by the Winklevoss twins, has generated a lot of buzz.
The twins are well-known Bitcoin billionaires who have been actively promoting cryptocurrencies.
They built a crypto exchange called Gemini, which is essentially a stock exchange for crypto coins.
However, their journey has not been without controversy.
Earlier this year, they were ordered to return more than $1bn (£800m) to customers due to a defunct lending programme and pay a large fine for unsafe and unsound practices.
It remains to be seen how their investment in the ninth-tier football club will fare.
The current value of Bitcoin is at an all-time high prompting many people to buy bitcoin with a credit card.
The investment is a significant boost for the club which has been struggling financially.
The Winklevoss twins' investment in the club could potentially attract more investors and sponsorship deals.
It is not uncommon for wealthy investors to invest in football clubs, and Hollywood celebrities like Ryan Reynolds and Rob McElhenney have recently invested in Welsh club Wrexham.
Investing in a Dream
The investment will be used to develop a new training centre and launch a football academy for new talent.
The club plans to use the funds to establish a Bitcoin treasury to secure its long-term ambitions.
Tyler Winklevoss, co-founder of Gemini, expressed his excitement to work alongside co-owner Peter McCormack, sharing his deep conviction in Bitcoin and its ability to supercharge RBFC's quest to make it into the Premier League.
The investment in RBFC is not just about investing in a football club, but investing in a dream.
The Winklevoss brothers aim to bring Premier League football to Bedford, which will not only benefit the club but also the local community.
The club's success will provide a platform for young and aspiring football players to showcase their talents and potentially move up the ranks to higher leagues.
Investing in lower leagues is a way to support authentic football, which is often lost in the commercialisation of the sport.
Non-league football clubs offer affordability and community, with a focus on the love of the game rather than profit.
The backing from Gemini will allow RBFC to continue investing in Bedford and the local community, providing a positive impact beyond the world of football.
