Bitcoin News Today: Worksport doubles Bitcoin holdings as crypto portfolio jumps 15%

Worksport has significantly expanded its Bitcoin holdings, doubling its digital asset portfolio as of December 2024 and reporting a 15% increase in the value of its cryptocurrency assets since the initial purchase [1]. The company’s strategic shift toward allocating a portion of its excess cash into digital assets reflects a broader trend of corporate adoption, with Bitcoin increasingly viewed as a store of value and a tool for portfolio diversification [2]. The board-approved policy allows up to 10% of the company’s surplus cash to be allocated to cryptocurrencies, a move that aligns with CEO Steven Rossi’s vision of forward-thinking treasury management [3]. Rossi emphasized that Bitcoin’s “unique, uncorrelated store of value” aligns with the company’s long-term financial preservation goals while supporting its core mission in American manufacturing [4].

The 15% growth in the digital asset portfolio value highlights the effectiveness of this approach, particularly in a volatile economic environment [5]. The portfolio now includes both Bitcoin and XRP, though Bitcoin remains the dominant asset in the allocation. This increase not only reflects the appreciation of Bitcoin’s price but also demonstrates the company’s confidence in the long-term trajectory of digital assets as a component of diversified treasury strategies [6]. At the time of the update, Bitcoin was trading at $116,710.34, with a market capitalization of $2.32 trillion and a 90-day price increase of 13.12% [7]. These figures suggest continued institutional and corporate interest in the cryptocurrency, potentially influencing broader market perceptions and regulatory developments.

Worksport’s Bitcoin strategy is part of a larger operational expansion plan, including increased production capacity and the acquisition of a custom manufacturing machine, expected to double current output [8]. This production expansion is designed to support the company’s clean-tech product line and enhance sales and gross margins. The strategic alignment of operational and financial initiatives illustrates a cohesive approach to long-term growth and value creation.

The company has also engaged in new partnerships with automotive original equipment manufacturers (OEMs), a move seen as critical for scaling operations and securing new revenue streams [9]. These developments come amid ongoing stock volatility, yet the company remains focused on executing its growth strategy. As it prepares to release Q2 2025 financial results on August 13, 2025, the continued doubling of Bitcoin holdings underscores its commitment to innovative capital allocation and diversified financial management [10]. The decision to double Bitcoin holdings is seen as more than a speculative move—it is a strategic signal of confidence in the digital asset’s role in modern corporate treasuries.

---

Source:

[1] Worksport (https://investors.worksport.com/post/worksport-wksp-issues-corporate-update-bitcoin-holdings-double-production-capacity-scales-new-automotive-oem-discussions-and-brand-visibility-initiatives)

[2] Nasdaq (https://www.nasdaq.com/press-release/worksport-wksp-issues-corporate-update-bitcoin-holdings-double-production-capacity)

[3] Binance (https://www.binance.com/en/square/post/08-07-2025-worksport-s-bitcoin-holdings-double-following-crypto-strategy-27997102683194)

[4] Investing.com (https://au.investing.com/news/company-news/worksport-doubles-bitcoin-holdings-amid-production-expansion-plans-93CH-3965594)

[5] TipRanks (https://www.tipranks.com/news/the-fly/worksport-provides-strategic-update-on-continued-expansion-thefly)

[6] The Economic Times (https://m.economictimes.com/crypto-news-today-live-07-aug-2025/liveblog/123149180.cms)

[7] CoinMarketCap (https://coinmarketcap.com/community/articles/689587caa023ec4608e1dba8/)

[8] Panabee (https://www.panabee.com/news/worksport-doubles-production-capacity-to-100-million-engages-new-automotive-oems)

[9] Moomoo (https://www.moomoo.com/hans/news/post/56644430/worksport-ltd-signals-strong-growth-and-strategic-advancements-ahead-of)