US Company Puts Bitcoin and Ripple in the Same Basket: They Became Part of the Treasury - Coin Bulletin

Worksport managed to draw the attention of the cryptocurrency sector by adding Bitcoin and Ripple to its corporate treasury strategy.

Worksport (WKSP), a US-based tonneau cover manufacturer listed on Nasdaq, has reported to the US Securities and Exchange Commission (SEC) that it has included cryptocurrencies in its corporate treasury strategy.

The company has decided to accept Ripple (XRP) as well as Bitcoin. According to the latest decision of the board of directors, Worksport will be able to make purchases of up to 5 million dollars from these two cryptocurrencies.

The company announced that it will finance this investment with cash generated from operational surpluses and future capital it will raise. In addition to including crypto assets in its treasury strategy, it was also announced that Worksport will start accepting payments with cryptocurrencies on its website.

In the last month, XRP has made a remarkable rise, signing one of the most remarkable crypto stories of the year. XRP has shown a performance increase of up to 3 times in the last 1 month.

Bitcoin, which is currently included in the balance sheets of approximately 60 companies, is being widely preferred, especially by large companies like MicroStrategy. MicroStrategy, led by Michael Saylor, adopts a persistent stance that Bitcoin is the 'best and only option' by refusing to turn to alternative cryptocurrencies.

In contrast, Worksport's preference for relatively lesser-known altcoins like XRP is a rare approach. Worksport CEO Steven Rossi described Bitcoin and XRP as 'resilient and reliable stores of value against inflation.'

In addition to the rise in the price of XRP, the fact that there are multiple spot XRP ETF applications pending in the US also stands out as a factor that could increase the institutional adoption rate of this altcoin.