Under Armour is a US-based company that manufactures and sells sportswear, footwear, and other sports equipment. The company had a market capitalization of $11.4 billion in September 2018. With bitcoin’s growth in appeal, many people have been asking how it would affect Under Armour. You need to read it before investing in cryptocurrency.
Under Armour’s share price is likely to be affected by the price of Bitcoin, as the company accepts Bitcoin as payment for some of its products. If the price of Bitcoin increases, Under Armour’s share price is likely to increase as well, as demand for the company’s products will increase.
On the other hand, if the price of Bitcoin decreases, Under Armour’s share price is likely to fall as well, as demand for the company’s products will decrease.
Under Armour is not the only company that accepts Bitcoin as payment. Other companies that accept Bitcoin include Microsoft, Overstock, Expedia, and Newegg. The volatility of bitcoin could potentially significantly impact the share prices of companies that accept Bitcoin as payment.
Investors should be aware of the risks associated with investing in companies that accept Bitcoin as payment, as the price of Bitcoin is highly volatile and could potentially have a significant impact on the share prices of these companies. The future of money is in the hands of blockchain technology.
At first glance, Bitcoin is used to purchase entirely out of possible products. For example, you can use it to pay for your coffee (you probably will pay more in Bitcoin than in dollars).
So many people are bullish about Bitcoin, but not many people know the real impact it could have on a company like Under Armour. Bitcoin is on its way to becoming a primary currency in the years to come, and this could change its business model.
So many companies like to tout their products as practical and durable. They might even use this to justify their low prices since they will save money on developing and manufacturing them in low-wage countries.
Several Ways how Bitcoin can affect Under Armour:
Bitcoin could lead to increased global demand for Under Armour products. According to CEO Kevin Plank, if Bitcoin ever became a widely-adopted form of currency, it could increase demand for Under Armour products.
In an interview with CNBC, Plank said that he sees Bitcoin as a “global currency” that could one day be adopted by businesses and consumers alike.
While Plank didn’t say whether or not Under Armour would accept Bitcoin as payment for its products, he did say that the company is “open-minded” to the possibility.
Plank’s comments come as Bitcoin continues to gain mainstream attention and adoption. Recently, major companies like Microsoft and Overstock have started accepting Bitcoin as payment, and the currency’s value has reached new highs.
If Bitcoin does become widely used, it could positively impact Under Armour’s business. The company’s products are sold in over 190 countries, so if Bitcoin becomes a global currency, it will make it easier for Under Armour’s customers to pay for its products.
In addition, Under Armour has a growing e-commerce business, which could benefit from the increased adoption of Bitcoin.
While it’s still too early to say whether or not Bitcoin will become a widely-used currency, Plank’s comments show that Under Armour is open to the possibility and that the company sees the potential benefits of Bitcoin.
If more businesses start accepting bitcoin as payment, this could increase the value of bitcoin and lead to more people wanting to purchase Under Armour products with the cryptocurrency.
Bitcoin could make it easier for customers to purchase Under Armour products from overseas retailers.
Bitcoin could make it easier for Under Armour to track customer payments and prevent fraud. In addition, Bitcoin could speed up getting paid by customers, improving the company’s cash flow.
The anonymous nature of bitcoin could appeal to some customers who value privacy and security.
Conclusion:
Under Armour is a company that is open-minded to the possibility of Bitcoin as payment for its products. While the price of Bitcoin is volatile, if it becomes a widely-used global currency, it could have a positive impact on Under Armour’s business.
Because Under Armour’s services are offered in over 190 countries, it will be easier for consumers to purchase if Bitcoin becomes a worldwide commodity.
