Following the sponsorship of NASCAR racer Josh Wise by the Reddit dogecoin community, Provident Metals became one of the next supporter of the Phil Parsons Racing team driver. Announced earlier this month, Provident Metals signed on to sponsor Wise for four races beginning with the Irwin Tools Night Race at the Bristol Motor Speedway in Tennessee on August 23rd. After accepting digital currencies from the dogecoin community, the Phil Parsons Racing team went to physical cash, real physical, for its deposit from Provident as the seller of precious metals paid with boxes of Zombucks silver coins.
Continuing the theme of merging the physical and digital world, Provident has today announced that they will begin to accept bitcoins, dogecoins and litecoins as form of payment for precious metals from the store. Explaining the rationale behind the decision, Provident Metals stated in the company’s public release that it was customer driven. The company specifically noted that their sponsorship of Josh Wise played a part as it led to demand from the dogecoin community for Provident to accept digital currencies. On this, Provident Metals COO Jake Haugen state “it was time for us to recognize the effect cryptocurrencies are having on the marketplace.”
Legal Risk Factor Beneath Ripple’s Lawsuit from SECGo to article >>
Provident Metals CEO Joe Merrick also added that as a precious metals shop, their customers have been historically interested in alternative metals, with cryptocurrencies an extension of that demand, stating “This integration was logical because many of our customers are proponents of alternative currency, and it’s our job to respond to their needs.”