RushOrderTees, the t-shirt printing and embroidering company, has purchased $1 million worth of crypto with its cash reserves.
The report said:
“The company has so far purchased $300k in Bitcoin and other cryptocurrencies over the past month and will ramp to $1 million in crypto holdings by the end of April.”
It has been reported according to the company’s website that they accept orders that range from single unit purchases to large-scale apparel runs. The business even touts a partnership with the NBA’s Philadelphia 76ers.
$Crypto adoption continues to grow as another company adds Bitcoin to its reserves, @benjaminpirus reports https://t.co/6QWML8eUKN — Cointelegraph (@Cointelegraph) March 12, 2021
Mike Nemeroff, the CEO of RushOrderTees, said:
“Bitcoin, cryptocurrencies, and blockchain technology offer an exciting glimpse into the future. This is our opportunity to be on the cutting edge of something that has the power to change global commerce forever.”
However, a number of other companies have also converted some of their company’s assets to Bitcoin, with more expected to follow. MicroStrategy has put over $2 billion of capital toward the currency, and Tesla bought $1.5 billion worth of BTC in 2021.
Thus, Square and MassMutual have also bought Bitcoin in recent months.