ALL-COUNTY APPAREL STARTS ACCEPTING BITCOIN AS PAYMENT, ADDS BTC TO BALANCE SHEET
Updated: Jun 2, 2022
RESS RELEASE TOTOWA, NJ, May 28, 2022 -- All-County Apparel, an up-and-coming leader in custom t-shirts and apparel, announced that they will begin accepting Bitcoin as payment starting immediately and that they intend to strengthen their reserves with BTC.
“We have already begun the process of diversifying into Bitcoin as a line item on our balance sheet. We believe in the future of Bitcoin and crypto payment systems, and are convinced this is a great opportunity for the company to have exposure to Bitcoin and potentially some alternate coins/projects as well,” said Andrew Monteyne, President of All-County Apparel.
The company’s diversification strategy and acceptance of Bitcoin purchases is already live. Monteyne explains the company’s excitement at allowing these purchases while commenting on their intention to continue more allocation into physical BTC.
“We have begun to diversify the company’s exposure on the cash side with periodic micro investments in Bitcoin,” Monteyne said. “We hope to maximize this opportunity by marketing toward and ultimately expanding our clients in the crypto space. We think allowing purchases in BTC [and potentially other cryptocurrencies] will widen our access to viable clients in this space who are interested in our custom apparel and branding services. Being an early-adopter as a company and a believer in the overall technology will make us more attractive to this client segment.”
All-County Apparel has experienced an increase in cash flow over the course of 2022, which Monteyne attributes mainly to their recent acquisition and a seamless takeover by his team. The company is ramping up marketing toward more tech-savvy customers in these blockchain ecosystems who are looking for a different experience, which ultimately led them to seek and integrate alternative forms of payment. Monteyne said they initially considered and are still keeping a close eye on several other digital payment solutions such as BitPay but that they ultimately decided to partner with Coinbase Commerce.