RushOrderTees To Invest $1 Mln In Crypto Assets With Its Cash Reserves.

A renowned t-shirt printing and embroidering firm, RushOrderTees, intends to shop for $1 Mln worth of crypto assets with its cash reserves, consistent with a recent official announcement.

“The firm has thus far invested $300k in Bitcoin [BTC] and other crypto-assets over the past month and can ramp to $1 Mln in cryptocurrency holdings by the end of April,” a 12th March public statement revealed. This move from RushOrderTees is another sign of adoption and normalization of virtual asset investing.

RushOrderTees is a custom shirt and apparel manufacturer based in Philadelphia, PA. They accept orders that range from single unit purchases to large-scale apparel runs. The business even touts a collaboration with the NBA’s Philadelphia 76ers, consistent with the official website.

Although Bitcoin [BTC] price has had its ups and downs over the years, the asset’s price has soared in recent months, breaking its 2017 record price high near $20k earlier in December last year. BTC has continued blazing an upward trail since then, recently flying past $57k.

“Bitcoin, crypto assets, along with the blockchain technology offer an exciting glimpse into the longer term,” Mike Nemeroff, RushOrderTees’ CEO, outlined within the statement. “This is our opportunity to get on the leading edge of something that has the facility to vary global commerce forever.”

A number of other firms have also converted a number of their business assets to Bitcoin, with more expected to follow. MicroStrategy has put over $2 Bln of capital toward the currency, and Tesla bought $1.5 Bln worth of BTC within this year in 2021. Square and MassMutual have also purchased Bitcoin in recent months.

Nemeroff is not any stranger to the cryptocurrency ecosystem, as the CEO himself has reportedly purchased crypto assets over the years, the statement concluded.

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