Following in the footsteps of Tesla, the home warranty company American Residential Warranty (ARW) says it will accept cryptocurrency payments for its services. In addition, the company also plans to acquire and hold bitcoin as part of its strategy “to expand its investment portfolio and boost returns on cash.”
In his statement following the announcement, Josh Brauser, the companys chief revenue officer said that by adopting crypto payments, ARW is demonstrating that it is a “tech-forward company that adapts quickly to emergent technologies.”
“As businesses around the world embrace this new era of global currency, at American Residential Warranty we are proud to continue being an innovator in the home warranty space with plans to accept bitcoin payments from our increasingly tech-savvy customers,” added Brauser.
Concerning the Boca Raton-based companys plan to add bitcoin (BTC) to its balance sheet, the statement reveals that ARW, which offers its services in all of the 50 U.S states, will be working with the crypto exchange, Gemini. The exchange will be handling custodial services for American Residential Warranty.
Furthermore, the statement hints that BTC, which has grown by more than 300% in the past 12 months, is an asset that fits the profile of securities that ARW wants to invest in.
By embracing BTC and crypto payments, the U.S. firm ARW joins the growing list of companies and prominent individuals who have made the same decision. Meanwhile, companies keeping bitcoin and ethereum on their balance sheets is also trending internationally.
