In a bold move blending sports and finance, the Winklevoss twins have injected $4.5 million in Bitcoin into Real Bedford Football Club, aiming to create the world's first Bitcoin-powered team. This investment coincides with a sharp Bitcoin price drop, which saw about $925 million liquidated in the crypto markets.

Transforming Real Bedford FC: A Groundbreaking $4.5 Million Bitcoin Investment Spurs Hopes for Premier League Ascent

Cameron Winklevoss claims that the trio is attempting to establish the world's first Bitcoin-powered football club, per CoinGape.

Gemini announced that the $4.5 million investment is the largest ever made into a football club in the United Kingdom outside of professional leagues. Cameron, Tyler, and Peter all share a strong interest in Bitcoin. Peter is well-known for his podcast, "What Bitcoin Did."

The trio is optimistic about Bitcoin's ability to help RBFC advance to the Premier League. At the same time, the investment highlights Gemini's long-standing partnership with RBFC, as the former was announced as the club's sponsor as far back as 2022.

Following the new development, a Bitcoin treasury will be established to secure the club's long-term goals. A new training center and football academy will be established to develop local talent.

The alliance will also increase its ongoing support for girls' and youth football. Finally, funding for Bedford FC's hardship fund would be increased, ensuring that no Bedford child is denied the opportunity to play football due to financial constraints.

Crypto Pioneers Broaden Horizons: From Premier Sports Sponsorships to Advanced AI Integration

The Winklevoss brothers' generous investment, which emphasizes Bitcoin's increased adoption and utilization, also demonstrates an increase in investment diversification among crypto founders.

Tyler and Cameron are now venturing into the sports industry. Similarly, Singapore-based cryptocurrency firm BingX agreed to sponsor a portion of football giant Chelsea's jersey in January. This meant the new jersey would feature a BingX logo on the sleeve for the remainder of the season.

Other cryptocurrency firms have recently shown a strong interest in artificial intelligence (AI). Flare Network, a blockchain startup, is working on integrating AI into its system to enable collaborative artificial intelligence across multiple applications.

Soon, the crypto industry will likely see more founders and their companies diversifying into sectors unrelated to finance.

Bitcoin Tumbles to $65,000, Igniting Market Wide Sell-Off Amidst Global Economic Uncertainty

In a sharp correction, the price of Bitcoin (BTC) fell more than 6% to $65,000, causing the broader cryptocurrency market to fall by more than 7.8%. The correction in the altcoin space is even deeper, with the top ten altcoins falling between 8 and 15%.

According to Coinglass data, approximately $925 million in bullish cryptocurrency bets were liquidated in the last 24 hours, representing the largest drop in the past month. The financial landscape experienced turbulence on Friday as geopolitical tensions rose, prompting investors to seek refuge in traditional safe-haven assets such as bonds and the dollar.

However, this correction has occurred across asset classes, with the S&P500 and even the gold price retracing alongside crypto. This suggests that investors are also considering CPI and inflation concerns, as the chances of the Fed cutting interest rates are decreasing significantly.

A key gauge closely monitored in the options market is beginning to show growing apprehension among speculators ahead of a significant Bitcoin code adjustment, which has historically been bullish for the cryptocurrency.

Surge in Bitcoin Volatility Signals Growing Market Jitters as Options Traders Brace for Uncertainty

According to a Kaiko Research report (via CoinGape), implied volatility for Bitcoin options rose last weekend, reversing the previous week's downward trend. According to Adam McCarthy, a research analyst at Kaiko, this increase typically indicates a decrease in market participants' confidence in price direction. Rising implied volatility frequently leads traders to pay more to hedge existing positions or speculate on future price movements, whether upward or downward.

Bitcoin's volatility increased on Friday, with swings exceeding 8% amid global financial market turmoil caused by heightened geopolitical risks.

Kaiko noticed a significant increase in implied volatility for contracts expiring in the next two weeks, which jumped from 59% to 71% in just two days. This surge suggests that investors are becoming more concerned about near-term volatility.

“In this case, it’s likely more bearish as traders are uncertain, but are willing to pay more for options to get protection against price swings. They’re possibly paying high premiums to buy downward protection,” McCarthy added.

Aside from Bitcoin, the altcoin market is experiencing an even deeper correction. Ether, the second-largest cryptocurrency after Bitcoin, fell by up to 12% at its lowest point, marking the most significant intraday decline since November 2022. Solana and Dogecoin followed suit, declining by 12% and 13%, respectively. Similarly, Cardano and Polkadot experienced significant declines, with each falling around 15%.

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