American Company Expands Treasury Strategy by Adding Bitcoin and XRP

Worksport, a US-based manufacturer, is making strides into the cryptocurrency space by incorporating Bitcoin and XRP into its corporate treasury strategy.

The company announced that its Board of Directors has approved the purchase of up to $5 million in these digital assets, allocating no more than 10% of its excess operational cash for the investments.

This move reflects the growing institutional interest in cryptocurrency, especially as Bitcoin recently reached $104,000, triggering a wave of excitement among organizations looking to capitalize on its potential.

XRP has also seen significant growth, with its value soaring by up to 200%. Worksport aims to improve transaction efficiency through this crypto adoption and solidifies its belief in digital currencies as a store of value and inflation hedge.

This follows the trend of increasing institutional adoption, similar to that of MicroStrategy, which continues to amass Bitcoin for its balance sheet.