ARW Joins The Bitcoin Family By Investing In The Cryptocurrency
The growing list of institutional investors in Bitcoin continues to be high as the digital assets’ popularity increases. The digital assets have seen massive growth in fortunes of more than 100% in the last three months, despite an unstable last month. However, that is solely why the assets are now one of the most preferred by many investors either outside or inside the cryptocurrency space. However, the latest digital assets trend is the adoption by institutional players committing millions of dollars in investing in cryptocurrency. The latest of such institutional players in the U.S warranty plan firm- American Residential Warranty (ARW)-confirmed that they had invested a part of their treasury in Bitcoin.
ARW will also accept Bitcoin for payment of its services
In a recent statement to the press, the Florida-based U.S home warranty company has announced its involvement with the leading cryptocurrency, Bitcoin. They have now joined a growing list of large corporations which have now committed their treasury to the digital asset. Apart from investing its treasury in Bitcoin, ARW is also set to receive payment for its services in Bitcoin, much to the delight of its customers who own the cryptocurrency.
In the firm’s official statement, the new Bitcoin investment was facilitated via the Winklevoss brothers-owned Gemini exchange. Just like most institutional players that have invested in Bitcoin before now, ARW’s decision to commit a part of its treasury to Bitcoin is in a bid to diversify its investments. The firm believes that investing in cryptocurrency will bring more value to its portfolio, hence why it made such a decision. While the firm did not disclose the specific amount of money it had spent on investment, rumors have it that they must have spent almost $10 million in investments in the digital assets.
ARW pledges to its customers
The adoption of Bitcoin by ARW had taken a step further than other institutional players who had recently committed huge funds into the cryptocurrency. Unlike others, ARW will now accept payment for its services in the cryptocurrency, a step viewed by many crypto enthusiasts as one in the right direction. The firm’s official statement said it would continue to offer American homeowners the best possible tech-driven services, as it believes that accepting crypto as payment will be beneficial to all. The firm also promises to bring more emergent technology-driven services onboard for its customers.
The new investment of ARW in Bitcoin continues to show how important Bitcoin has become in society. The digital asset continues to be the most admired and purchased by many institutional players like Tesla, Microstrategy, Square, and Co. Fortunately, many analysts have predicted that Bitcoin will continue to attract the interest of many large corporations at the beginning of the year, and it looks like the predictions are coming to reality. However, institutional adoption in cryptocurrency shows that it will continue to be a mainstay in the financial world, a situation that will delight many in the crypto community.