⚡ Gemini Becomes New Partner of Real Bedford FC
posted 1 Jul 2024
Cryptocurrency exchange Gemini has become a sponsor of the English football club Real Bedford, owned by Peter McCormack, host of the popular podcast What Bitcoin Did. The sponsorship deal was paid in Bitcoin, which will be used for club development and the launch of a youth academy.
Under the terms of the sponsorship, Gemini's logo will appear on the team's jerseys during all matches to help attract new customers. Although Gemini has not disclose the investment amount, they confirmed that Real Bedford is their only partner in the sports sector.
Real Bedford has proactively converted its treasury assets into Bitcoin to safeguard its accumulated funds and investments against high inflation. Additionally, the club's players can opt to receive their salaries in cryptocurrencies, and fans can use digital currency to purchase merchandise and tickets.
By integrating bitcoin into our treasury, we have achieved a +62% return, thereby strengthening the club's financial position and protecting our cost base against the recent surge in inflation,said McCormack.
Details regarding the exact amount of Bitcoin held by the club are not public; however, it is noted that previously, Gemini invested approximately $4.5 million in Real Bedford through Winklevoss Capital, an investment firm run by the Winklevoss twins. This investment makes them effectively co-owners of the football club.
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