Twin Vee PowerCats to Accept Bitcoin as Payment for Boat Sales
Twin Vee PowerCats Co. (Nasdaq:VEEE) has announced plans to accept Bitcoin (BTC) as payment for its Twin Vee and AquaSport power sport boats. The company aims to provide customers with more flexible payment options while potentially attracting tech-savvy and international buyers through cryptocurrency integration.
The company will work with its dealer network to facilitate Bitcoin transactions, offering credits or cash conversions to dealers who may not currently accept cryptocurrency. Twin Vee is currently finalizing the technological infrastructure needed for secure and efficient cryptocurrency transactions, with the first Bitcoin payment expected to be accepted soon.
Twin Vee PowerCats Co. (Nasdaq:VEEE) ha annunciato piani per accettare Bitcoin (BTC) come pagamento per le proprie imbarcazioni sportiva Twin Vee e AquaSport. L'azienda mira a fornire ai clienti opzioni di pagamento più flessibili, attirando potenzialmente acquirenti tecnologicamente esperti e internazionali attraverso l'integrazione delle criptovalute.
L'azienda collaborerà con la propria rete di concessionari per facilitare le transazioni in Bitcoin, offrendo crediti o conversioni in contante ai concessionari che potrebbero attualmente non accettare criptovalute. Twin Vee sta attualmente finalizzando l'infrastruttura tecnologica necessaria per garantire transazioni sicure ed efficienti con criptovalute, con il primo pagamento in Bitcoin che si prevede venga accettato a breve.
Twin Vee PowerCats Co. (Nasdaq:VEEE) ha anunciado planes para aceptar Bitcoin (BTC) como pago por sus lanchas deportivas Twin Vee y AquaSport. La empresa busca ofrecer a los clientes opciones de pago más flexibles, al tiempo que potencialmente atrae a compradores conocedores de la tecnología e internacionales a través de la integración de criptomonedas.
La empresa colaborará con su red de concesionarios para facilitar las transacciones en Bitcoin, ofreciendo créditos o conversiones en efectivo a los concesionarios que actualmente pueden no aceptar criptomonedas. Twin Vee está finalizando actualmente la infraestructura tecnológica necesaria para transacciones seguras y eficientes con criptomonedas, con el primer pago en Bitcoin que se espera sea aceptado pronto.
Twin Vee PowerCats Co. (Nasdaq:VEEE)는 Twin Vee 및 AquaSport 스포츠 보트의 지불 수단으로 비트코인(BTC)을 수락할 계획을 발표했습니다. 이 회사는 고객에게 보다 유연한 결제 옵션을 제공하고, 암호화폐 통합을 통해 기술에 정통하고 국제적인 구매자를 유치하는 것을 목표로 하고 있습니다.
회사는 비트코인 거래를 촉진하기 위해 대리점 네트워크와 협력하여 현재 암호화폐를 수락하지 않을 수 있는 대리점에 신용 또는 현금 변환을 제공합니다. Twin Vee는 안전하고 효율적인 암호화폐 거래를 위한 기술 인프라를 현재 마무리하고 있으며, 최초의 비트코인 결제가 곧 수락될 것으로 예상됩니다.
Twin Vee PowerCats Co. (Nasdaq:VEEE) a annoncé des plans pour accepter Bitcoin (BTC) comme mode de paiement pour ses bateaux de sport Twin Vee et AquaSport. L'objectif de l'entreprise est de fournir aux clients des options de paiement plus flexibles tout en attirant potentiellement des acheteurs technophiles et internationaux grâce à l'intégration des cryptomonnaies.
L'entreprise travaillera avec son réseau de concessionnaires pour faciliter les transactions en Bitcoin, offrant des crédits ou des conversions en espèces aux concessionnaires qui peuvent ne pas accepter actuellement les cryptomonnaies. Twin Vee est en train de finaliser l'infrastructure technologique nécessaire pour des transactions de cryptomonnaie sécurisées et efficaces, le premier paiement en Bitcoin devant être accepté prochainement.
Twin Vee PowerCats Co. (Nasdaq:VEEE) hat Pläne angekündigt, Bitcoin (BTC) als Zahlungsmittel für seine Twin Vee und AquaSport Sportboote zu akzeptieren. Das Unternehmen zielt darauf ab, den Kunden flexiblere Zahlungsmöglichkeiten zu bieten und potenziell technologieaffine sowie internationale Käufer durch die Integration von Kryptowährungen zu gewinnen.
Das Unternehmen wird mit seinem Händlernetz zusammenarbeiten, um Bitcoin-Transaktionen zu erleichtern und Händlern, die möglicherweise derzeit keine Kryptowährungen akzeptieren, Kredite oder Bargeldumwandlungen anzubieten. Twin Vee befindet sich derzeit in den letzten Zügen der technischen Infrastruktur, die für sichere und effiziente Kryptowährungstransaktionen erforderlich ist, wobei die erste Bitcoin-Zahlung voraussichtlich bald akzeptiert wird.
- Potential expansion of customer base to include tech-savvy and international buyers
- Enhanced payment flexibility for customers
- Innovative market positioning in the boat manufacturing industry
- Exposure to cryptocurrency price volatility risks
- Additional operational complexity in managing crypto payments
- Potential regulatory uncertainties surrounding cryptocurrency transactions
Insights
The integration of Bitcoin payments by Twin Vee PowerCats represents a strategic move to tap into the cryptocurrency market, though its immediate financial impact may be This initiative aligns with broader market trends as cryptocurrency adoption in luxury purchases continues to grow, particularly among high-net-worth individuals seeking alternative payment methods.
The company's approach to handling dealer conversions through credits or cash demonstrates thoughtful implementation, addressing a critical operational challenge in cryptocurrency adoption. However, key considerations remain unclear, including volatility management strategies and the percentage of sales expected through this payment channel.
For a company with a market cap of
Think of this as adding a new door to a house - while it doesn't change the fundamental structure, it provides an additional entry point for a specific group of customers. The success will largely depend on the execution and market reception rather than the mere availability of the payment option.
In the luxury boat market, where transactions typically range from
The dealer network implementation strategy is particularly noteworthy. By offering dealer conversion options, Twin Vee removes a significant barrier to adoption while maintaining their existing distribution channels. However, this could add operational complexity and potential cost layers to the sales process.
From a competitive standpoint, being among the early adopters in the marine industry for cryptocurrency payments could provide Twin Vee with a unique market differentiator, especially appealing to younger, tech-savvy buyers entering the boating market. However, the actual impact on sales volume is likely to be modest in the short term, as traditional financing remains the predominant method for boat purchases.
FORT PIERCE, FL / ACCESSWIRE / January 6, 2025 / Twin Vee PowerCats Co. (Nasdaq:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, announced that it would soon start accepting Bitcoin ("BTC") for purchases of its Twin Vee and AquaSport power sport boats.
"Twin Vee has always been about forward-thinking and being at the forefront of both our boat designs and the way we serve our customers," said Joseph Visconti, CEO of Twin Vee PowerCats Co. "We want to provide our customers with a seamless and modern purchasing experience by integrating Bitcoin into our payment options while also widening the appeal in our boats. The increasing use and legitimacy of cryptocurrency as a payment method has inspired us to offer this financial option."
The Company believes that accepting Bitcoin will open the door to a new segment of tech-savvy customers who prefer to transact using cryptocurrency. The inclusion of Bitcoin could potentially attract more international buyers familiar with its decentralized and borderless nature. "Having heard from Twin Vee boat owners over the years, we want to provide greater flexibility and choice in how customers complete their purchases with us," remarked Visconti. "We are an innovative and future-oriented company, and by incorporating Bitcoin into our sales ecosystem, Twin Vee is staying ahead of the curve and providing a convenient method to pay for our incredible products. We'll be working closely with our dealer network to facilitate Bitcoin transactions for all of our customers. This will include providing credits or cash conversions to those dealers who may not currently accept Bitcoin, allowing them to confidently embrace this new payment option."
Twin Vee is finalizing the necessary technological infrastructure to ensure secure and efficient cryptocurrency transactions and expects to be able to accept its first Bitcoin soon. "We will continue to explore new ways to enhance every aspect of boat ownership, from purchase to performance and everything in between," concluded Visconti.
About Twin Vee PowerCats Co.
Twin Vee PowerCats Co. is a manufacturer, distributor, and marketer of power sport boats. The Company produces a range of boats designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the "Best Riding Boats on the Water™." The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. Learn more at twinvee.com.
Visit Twin Vee PowerCats Co. on Facebook and Instagram.
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Check out Joseph's CEO Hustle webcast via Instagram, Facebook, or YouTube.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding integrating Bitcoin into the Company's payment option, providing a seamless and modern purchasing experience and widening the appeal in the Company's boats, accepting Bitcoin opening the door to a new segment of tech-savvy customers who prefer to transact using cryptocurrency, attracting more international buyers, staying ahead of the curve by incorporating Bitcoin into its sales ecosystem and providing a convenient method to pay for the Company's products, working closely with the Company's dealer network to facilitate Bitcoin transactions for all of its customers, providing credits or cash conversions to those dealers who may not currently accept Bitcoin, allowing dealers to confidently embrace this new payment option, finalizing the necessary technological infrastructure to ensure secure and efficient cryptocurrency transactions, accepting the its first Bitcoin soon and continuing to explore new ways to enhance every aspect of boat ownership. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others the Company's ability to integrate Bitcoin into its payment option as planned, the Company's ability to provide a seamless and modern purchasing experience and widen the appeal in its boats, the Company's ability to attract more international buyers, the Company's ability to stay ahead of the curve, the Company's ability to finalize the necessary technological infrastructure to ensure secure and efficient cryptocurrency transactions, the Company's ability to work with its dealer network to facilitate Bitcoin transactions for all of its customers, the Company's ability to provide credits or cash conversions to those dealers who may not currently accept Bitcoin, the Company's ability to encourage dealers to embrace this new payment option, the Company's ability to enhance every aspect of boat ownership and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
Contact:
Glenn Sonoda
investor@twinvee.com
SOURCE: Twin Vee PowerCats Co.
View the original press release on accesswire.com
FAQ
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