Worksport stock jumps 9% after adding BTC, XRP to treasury strategy
Worksport plans to dedicate up to 10% of its surplus operational cash to purchase Bitcoin and XRP.
Shares of United States manufacturer Worksport (WKSP) surged 9.1% on Dec. 5 after the company decided to incorporate Bitcoin and XRP into its treasury strategy.
According to an announcement, Worksport plans to allocate up to 10% of any excess cash from operations to purchase Bitcoin (BTC) and XRP (XRP), with an initial investment of up to $5 million. Taking this step, the company expects to hedge against inflation while diversifying its treasury.
Nasdaq-listed WKSP on Dec. 5. Source: Google Finance
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Author: Ana Paula Pereira
