While Bitcoin (BTC) and XRP have attracted attention with their recent rise, the interest of investors is also increasing.
At this point, Worksport, a company that produces covers for pickup trucks listed on Nasdaq, announced that it will allocate 10% of its cash reserves to Bitcoin and XRP.
Worksport (WKSP) plans to allocate up to 10% of its cash reserves to Bitcoin and XRP, Coindesk reported.
While many companies have announced plans to invest some of their cash reserves in Bitcoin since the election of Donald Trump, Worksport's announcement that it will invest in XRP alongside Bitcoin is a different story.
Worksport CEO Steven Rossi emphasized Bitcoin’s role in inflation protection and transaction efficiency, while also drawing attention to XRP’s potential as a stable and valuable asset.
Rossi also noted that he has been personally investing in XRP for several years, saying:
“I think XRP is becoming a much more stable currency and asset.
Although I think XRP will be volatile like most assets in the short term, we believe that investing in XRP will benefit us in the long run.
I was pleasantly surprised to see my XRP in my wallet and that XRP has been performing quite well lately.
This rally reaffirms that XRP, Bitcoin and cryptocurrencies are early-stage assets that truly challenge central banking.”
*This is not investment advice.
