According to a recent announcement, RushOrderTees, a shirt printing and embroidery company, plans to raise $ 1 million in cryptocurrency from the cash reserves.
In a public statement issued on March 12, the company said: “The company has so far purchased $ 300,000 bitcoins and other cryptocurrencies over the past month, and by the end of April, the volume of cryptocurrency reserves will increase to $ 1 million.” RushOrderTees is another sign of approval and normalization for digital real estate investments.
RushOrderTees is a bespoke shirt and apparel manufacturer based in Philadelphia, PA. They take orders from one-time purchases to large purchases of clothes. The company even promotes a partnership with the Philadelphia 76ers in the NBA, according to the company’s website.
Although Bitcoin (BTC) has experienced ups and downs over the years, the price of the asset has risen in recent months, breaking the 2017 record of around $ 20,000 in December 2020. Since then, BTC has continued its upward trajectory and recently surpassed 57 000 dollars.
“Bitcoin, cryptocurrencies and blockchain technology provide an insight into the future,” said Mike Nemirov, CEO of RushOrderTees. “This is our chance to be at the forefront of something that could change global trade forever.”
A number of other companies have also transferred some of the company’s assets to Bitcoin, and others are expected to follow. MicroStrategy has allocated over $ 2 billion in capital to the coin, and Tesla bought BTC for $ 1.5 billion in 2021. Square and MassMutual have also bought bitcoins in recent months.
Nemiroff is no stranger to the cryptocurrency area, as the CEO himself has allegedly bought cryptocurrency over the years, the statement says.