Worksport Initiates Cryptocurrency Reserve Strategy With Bitcoin And XRP Purchase

According to PANews, U.S. clean energy solutions manufacturer Worksport has made its first acquisition of Bitcoin (BTC) and Ripple (XRP) as part of a newly established cryptocurrency reserve strategy. The company announced that this initial six-figure purchase aims to address global economic changes and support its long-term growth plans. Worksport aims to achieve revenue growth, launch three new products, and approach positive cash flow by 2025. The company plans to gradually increase its cryptocurrency holdings using excess cash reserves while closely monitoring the regulatory developments under the new U.S. government. Additionally, Worksport intends to introduce cryptocurrency payment options on its website, Worksport.com, to reduce transaction costs and expand payment methods, thereby enhancing operational efficiency. CEO Steven Rossi stated that the company's business is rapidly growing, with both revenue and profit margins steadily improving. He views the cryptocurrency investment as a low-risk, anti-inflation strategy that could benefit from a clearer regulatory environment for cryptocurrencies. Worksport maintains a long-term optimistic outlook on its current BTC and XRP holdings. Previously, Worksport, a publicly traded U.S. company, announced its decision to purchase Bitcoin and XRP as reserve assets.