American Residential Warranty (ARW), which is following in Tesla’s footsteps, announces that it will accept cryptocurrency payments for its services. In addition, the company plans to acquire and hold Bitcoin as part of its strategy “to expand its investment portfolio and increase cash returns.”
In a statement following the announcement, Josh Brauser, the company’s chief revenue officer, said that by adopting crypto payments, ARW is demonstrating that it is a “tech-forward company that is rapidly adapting to new technology.”
“As companies around the world embrace this new era of global currency, we at American Residential Warranty are proud to continue to be an innovator in home warranty and accepting bitcoin payments from our increasingly tech-savvy customers,” added Shower added.
Regarding the Boca Raton-based company’s plan to include Bitcoin (BTC) on its balance sheet, the statement states that ARW, which offers its services in all 50 U.S. states, will partner with the Gemini crypto exchange. The exchange will handle the custody services for the American residential property guarantee.
Additionally, the statement suggests that BTC, which has grown more than 300% in the past 12 months, is an asset that fits the profile of the securities ARW is looking to invest in.
By introducing BTC and crypto payments, US company ARW is joining the growing list of companies and celebrities who made the same decision. Meanwhile, companies that keep Bitcoin and Ethereum on their balance sheets are also trending internationally.
What is your impression of ARW’s decision to go with BTC? Let us know what you think in the comments section below.
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