PANews reported on December 5 that according to CoinDesk, Worksport (WKSP), a small pickup truck tonneau cover manufacturer listed on Nasdaq, announced that it would invest 10% of its cash reserves (up to $5 million) in Bitcoin and XRP, but the ratio may change in the future. This shift is intended to protect the company's assets from inflation and improve transaction efficiency. Worksport CEO Steven Rossi said in an interview that he has personally invested in XRP for some time and believes that it is crucial for companies to have decentralized assets.
The New York-based company has a market value of $20 million and Worksport's stock price has fallen 65% over the past five years.
