Warranty Plan Company ARW Joins The BTC Bandwagon

Warranty plan company ARW has joined the Bitcoin bandwagon as it will start accepting cryptocurrency as a method of payment for services that it offers so let’s find out more in our latest Bitcoin news today.

The American Warranty plan company made a strategic decision to invest in BTC and to accept crypto payments for its services. The American Residential Warranty company joined the number of companies that are making BTC a part of their investment portfolio and the company also revealed that it will accept crypto payments for its services. According to the recent statement, ARW made a decision to invest in BTC with the intention to expand the investment portfolio options and to boost the returns on cash while using the Gemini crypto exchange to provide custodial services for the company’s holdings.

The company said that its capital allocation strategy is a mix of low risks and short-term liquidy vehicles as well as securities for long-term investments but it hasn’t disclosed the exact amount of money it will convert into BTC. ARW followed the footsteps of Tesla as it announced it is holding a huge BTC chunk in its investment portfolio:

 “By accepting crypto as a payment option for homeowners, ARW is not only giving their customers the most comprehensive home warranty plans but also signaling that American Residential Warranty is a tech-forward company adapting quickly to emergent technologies.”

ARW is the latest company in the growing list of companies that are going for Bitcoin as an investment vehicle in the past few months. Microstrategy added another $10 million in BTC for its portfolio a week ago which increased the total stash to 91,064 BTC. Now, the company’s portfolio increased to over $5.1 billion at current prices. Tesla also purchased $1.5 billion worth of BTC in January as per the data by Bitcointreasuries and its holdings hit $2.5 billion.

The latest addition to the ranks of major institutional investors is Aker ASA, the well-known Norwegian hodling company that is controlled by Kjell Inge Rokke as it announced the launch of a new business unit that will focus on investing in projects and companies within the BTC ecosystem as its subsidiary Seetee AS will keep the assets in the number one cryptocurrency.