Gemini Sponsors UK Football Club Bedford for Five Years Using Bitcoin
The American cryptocurrency exchange Gemini has extended its sponsorship deal with the United Kingdom football club Real Bedford by another five years.
According to an official announcement, the deal will be paid upfront in bitcoin (BTC) and deposited directly into the club’s Bitcoin treasury.
Gemini Sponsors Bedford FC With BTC
Gemini began sponsoring Real Bedford FC using BTC in 2022. Bitcoin proponent and podcast host Peter McCormack acquired Real Bedford in April 2022, earning the club the nickname “Bitcoin football team.”
Real Bedford FC has fully integrated Bitcoin into its infrastructure, allowing the purchase of tickets, merchandise, and player payments in BTC. The club’s Bitcoin treasury safeguards its savings and investments, acting as a hedge against high inflation and supporting its long and short-term goals. Real Bedford plans to erect a new training center and launch a youth football academy for underprivileged children in the Bedford region.
“By accepting payment in Bitcoin, this deal strengthens our economic foundations. In today’s climate of reckless government economic policies, marked by massive borrowing, high inflation, and soaring interest rates, hardworking people are bearing the financial burden. While the government continues to stifle the productive class, bitcoin offers a lifeline, providing individuals and businesses a way to safeguard their financial future,” McCormack said.
McCormack revealed that the club’s Bitcoin treasury has recorded a 62% return since it was integrated. He has offered to help any football club or business interested in adopting a Bitcoin treasury with its strategy.
Winklevoss Twins Invest $4.5M in BTC
Winklevoss Capital, an investment firm owned by Gemini founders Tyler and Cameron Winklevoss, invested $4.5 million worth of BTC in the club in April. By extending the sponsorship deal between Gemini and the club, the crypto exchange supports the club’s quest to reach the Premier League.
Commenting on the deal extension, Gemini’s COO Marshall Beard, said: “Our strategic five-year deal reaffirms our continued conviction that Real Bedford — powered by Bitcoin and Peter’s leadership — has the ability to defy the odds, upset the establishment, and dethrone incumbents. Through our investment, Real Bedford’s balance sheet will be fortified with digital assets, giving them advantages on and off the pitch. We can’t wait to see what the club achieves in the coming years.”
Meanwhile, Real Bedford has received two consecutive league promotions and won two cups in the last two seasons.
The post Gemini Sponsors UK Football Club Bedford for Five Years Using Bitcoin first appeared on Cointab.
