crypto.news
Nasdaq-listed Heritage Distilling Holding Company has announced a new Bitcoin Treasury Policy Statement.
The announcement outlines plans to accept Bitcoin (BTC) as payment and hold it as a strategic asset. This move positions the craft distiller as a leader in integrating cryptocurrency within the craft spirits industry.
The company aims to capitalize on Bitcoin’s growing acceptance among consumers, businesses, and financial institutions. Heritage sees potential in Bitcoin’s adoption, citing recent updates to accounting standards that simplify how companies report Bitcoin holdings, according to a company release.
Another example of a company pursuing a similar strategy is Genius Group, which recently announced plans for a Bitcoin treasury and disclosed an additional $5 million purchase of Bitcoin on Jan. 10.
Bitcoin and Ecommerce
The company plans to allow customers to purchase products on its direct-to-consumer e-commerce platform using Bitcoin. It will also acquire and hold Bitcoin as part of its corporate treasury strategy.
Heritage believes its position as a producer of goods provides a cushion against bitcoin’s price volatility. The cost of producing spirits is lower than the retail price, allowing the company to absorb potential fluctuations in Bitcoin’s value.
CEO Justin Stiefel noted that this approach gives Heritage financial flexibility while expanding its customer base to include Bitcoin users. The company’s Technology and Cryptocurrency Committee, chaired by tech leader Matt Swann, will formalize the policy before implementation.