Winklevoss Capital, the investment firm owned by Gemini founders Cameron and Tyler Winklevoss, has made a $4.5m bitcoin investment into Real Bedford FC.
Following the $4.5m bitcoin investment, the Winklevoss twins have become co-owners of the ninth tier football club, alongside journalist Peter McCormack who announced the deal at the inaugural CheatCode Conference in Bedford – an event focused on Bitcoin.
McCormack commented: “This has been a great few years for the club as we hit all of our growth goals and supported the community in a sustainable way. The demands of a fast-growing club are significant, and the backing from Tyler and Cameron will allow us to continue investing in Bedford and the local community.”
Real Bedford FC has outlined its plans for using the investment, which include establishing a bitcoin treasury to secure the club’s long-term ambitions, developing a new training centre as well as launching a football academy aimed at nurturing local talent.
Furthermore, the investment will be used to continue support for girls’ and youth football, along with an increase in funding for the club’s hardship fund, which will ensure that economic reasons do not hinder any child in Bedford from enjoying football.
Tyler Winklevoss said: “We share in Peter’s deep conviction in bitcoin and its ability to supercharge RBFC’s quest to make it into the Premier League. Since our first conversation more than two years ago, Peter has proven he knows how to build a successful club and we’re excited to work alongside him as co-owners.”
This deal follows on from a long-term partnership between Gemini and the club, which began in January 2022. Bitcoin has played a huge part in Real Bedorford’s early success under McCormack, who is well known for his podcast “What Bitcoin Did.”
However, Bitcoin hasn’t proved to be easy for the brothers. Earlier this year the twins reached a $1.1bn settlement with customers of its defunct lending programme, following allegations from US regulators for unlawfully selling cryptocurrency assets to hundreds of thousands of investors.
Since acquiring the club in 2021, he has made significant progress towards his goal of leading the team to the Premier League, securing promotion from the 10th tier to the ninth tier in its debut season. Currently, the club sit atop the table this season, poised to clinch consecutive promotions.
Cameron Winklevoss added: “Seeing the progress Peter has made with Real Bedford and his community-building approach has truly been inspiring. His ability to translate vision into action is exactly why we believe in this project.
“We’re not just investing in a football club, we’re investing in a dream to bring Premier League football to Bedford. We firmly believe Peter is the right leader to make this dream a reality.”
