Cryptocurrency exchange Gemini co-founders Tyler Winklevoss and Cameron Winklevoss (LR) on stage at Bitcoin Conference 2021 in Miami, Florida.
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Cameron and Tyler Winklevoss, the billionaire twins, sued Mark Zuckerberg for allegedly stealing their Facebook idea Famous, they are investing millions of dollars in a small English football club.
The twins, who today run cryptocurrency exchange Gemini, announced on Friday that they have invested $4.5 million worth of Bitcoin in Royal Bedford Football Club (RBFC), making it a ” The first football club powered by Bitcoin”.
RBFC is a non-league semi-professional club from Bedford, England, acquired in 2022 by Bitcoin investor and podcaster Peter McCormack. In the latest deal, the Winklevoss twins will become co-owners of RBFC alongside McCormack, a lifelong Bedford resident.
“All of us were early Bitcoin holders, and that aligns with the values we all have,” Cameron Winklevoss told CNBC, explaining his co-ownership with McCormack RBFC decision. “Getting into Bitcoin early is the ultimate asset test. It shows you have to have vision, you have to have faith, and you have to persevere.”
“You have to persevere in good times and bad,” he added. “Any such journey is going to be a bumpy road. There will be setbacks and hardships.”
big plan
McCormack said he chose the Winklevoss twins because he wanted a partner or partners who could help him invest in infrastructure to expand the club. He plans to use part of the investment to raise funds to build a new training center, which he estimates will cost around £1.6 million ($2 million).
However, he does not plan to sell any Bitcoin for this purpose. Instead, Bitcoin will act as a “rainy day” fund.
“The smart thing would be to hold Bitcoin, borrow pounds to pay for it, and then the training center pays for itself in seven years because it’s also part of the club that’s bringing in the money,” McCormack said.
The Winklevoss twins are not the first American celebrities to put money into a little-known English football club. Actors Rob McElhenney and Ryan Reynolds purchased Welsh minor football club Wrexham AFC in February 2021 for £2 million ($2.5 million).
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