Crypto wrap: Coinjar sponsors EPL team; Seek founder is 50:50 in BTC and Eth
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A Melbourne and London-based crypto exchange has become an official sponsor of an English Premier League football club.
Coinjar will become the “official cryptocurrency partner” of the Brentford Football Club ahead of its debut season in EPL. The Bees play Arsenal at 5am AEST on Saturday in the league’s first game of the season.
The two-year agreement will see CoinJar feature prominently on LED signage across all 19 Premier League home games at Brentford Community Stadium.
CoinJar also recently partnered with the AFL’s Melbourne Demons, and says it plans to educate fans about crypto through both partnerships.
“For many, cryptocurrency remains a complex area, so we look forward to working with CoinJar as part of the partnership to help educate our fan base as both parties continue their rise in our respective industries,” said Brentford FC chief executive Jon Varney.
CoinJar also plans to bring its crypto Mastercard, which rolled out in Australia last week, to the United Kingdom soon.
Seek (ASX:SEK) co-founder Matt Rockman is among the high net worth investors who have dipped their toes into cryptocurrency.
Rockman, now the Melbourne-based chairman of investment advisory firm 1010 Capital, says he has about three per cent of his assets in crypto, split 50:50 between Bitcoin and Ethereum.
Rockman first invested Bitcoin in May 2020 when it was priced at $10,000 and later diversified into Ethereum when it was at around $500 to 700.
“I’m in the camp that has lost some faith in the current system and is looking to invest outside the system,” he said in a press release.
“Central bank aggressive actions have undermined fiat currency. My crypto investments are there as a hedge.”
While he described crypto as similar to gold, Rockman also described it as also having the hallmarks — and a similar risk profile — as venture capital investments.
“It feels like a hybrid asset class. Crypto has venture attributes while also having equity and currency attributes – its characteristics are quite new,” he said.
Rockman described himself as a strategic long-term crypto holder rather than a trader, and has been using the Winklevoss twins’ Gemini exchange to store his crypto.