The Winklevoss brothers became known in 2009 for their legal battle with Mark Zuckerberg, claiming that the Facebook founder had stolen their idea. They originally asked for over 100 million dollars, but in 2011 ended up accepting 65 million. Two years later, they decided to invest 11 million in a virtual currency that was just emerging at the time: bitcoin.
Now, the billionaires Cameron and Tyler, with an estimated wealth of 2.7 billion dollars each, have decided to enter a new stage as co-owners of an English football club, Real Bedford FC, a semi-professional club with a population of just under 200,000 inhabitants who want to take it to the top and compete in the Premier League one year.
The twins, who now lead the Gemini cryptocurrency exchange, announced last Friday that they invested 4.5 million dollars in bitcoins in Real Bedford Football Club (RBFC), making it the “first bitcoin-powered football club.” “We are not only investing in a football club, we are investing in a dream to bring Premier League football to Bedford,” said Cameron Winklevoss.
Both Cameron and Tayler will be the owners alongside Peter McCormack, also a cryptocurrency investor and podcast host, who plans to use part of the investment to secure funding to build a new training center, valued at around two million dollars. In addition, continuous support will be given to women’s and youth football.
Methodology with bitcoins
One of the guidelines to follow by these individuals is the decision not to sell any bitcoins to finance projects (such as the aforementioned one). Instead, bitcoin will serve as a fund for “hard times.”
“The smart decision is to hold onto bitcoin, borrow pounds to pay for it, and then the training center is paid off over a period of seven years because it is also part of a club that generates income,” McCormack revealed.
“You have to endure in good times and bad times,” he added. “Any journey like this will be a bumpy road. There will be setbacks and difficulties.”
