Exploring XRP’s Growing Popularity Among Institutional Players
As XRP’s price continues to surge, institutional interest in the token is on the rise. Companies like Worksport and The BC Bud Co. are now incorporating XRP into their treasury strategies, signaling a shift in focus from traditional crypto investments.
XRP’s Rise to Prominence
- XRP has experienced a remarkable 300% rally in the past month, propelling it into the top three digital assets by market capitalization.
- This surge has caught the attention of smaller firms looking to capitalize on the growing momentum around XRP.
Worksport’s Strategic Investment in Bitcoin and XRP
Worksport, a Nasdaq-listed truck cover manufacturer, recently announced plans to allocate up to $5 million in Bitcoin and XRP as part of its treasury diversification strategy.
The company aims to:
- Allocate 10% of its surplus operational cash to Bitcoin and XRP to hedge against inflation.
- Accept crypto payments on its e-commerce platform to reduce transaction costs by up to 37%.
- Reinvest interest earned from money market accounts into Bitcoin and XRP.
- Consider future capital allocations to build long-term crypto reserves.
Worksport’s CEO, Steven Rossi, views Bitcoin and XRP as resilient assets that can preserve value and drive financial innovation.
The BC Bud Co.’s XRP Investment Strategy
Canadian cannabis company The BC Bud Co. recently made a CAD 250,000 investment in XRP using cash reserves held in Canadian accounts.
The company’s CEO, Brayden Sutton, cited XRP’s legal and market advancements as reasons for the investment, noting:
- Global interest in XRP exchange-traded funds (ETFs).
- Pro-crypto sentiment in the political landscape.
Sutton believes that XRP’s potential aligns with emerging financial trends and will deliver long-term returns for shareholders.
