Nasdaq-listed Heritage Distilling introduces Bitcoin treasury plans

Nasdaq-listed Heritage Distilling Holding Company announced a new Bitcoin Treasury Policy Statement.

The announcement outlines plans to accept Bitcoin (BTC) as payment and hold it as a strategic asset. The move positions the craft distillery as a leader in integrating cryptocurrency into 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 adoption, citing recent updates to accounting standards that simplify how companies report Bitcoin holdings, according to a company statement.

Another example of a company pursuing a similar strategy is Genius Group, which recently announced plans for a Bitcoin treasury and announced an additional $5 million worth of Bitcoin purchases on January 10.

Bitcoin and E-commerce

The company plans to allow customers to purchase products on its direct-to-consumer e-commerce platform using Bitcoin. It will also purchase and hold Bitcoin as part of its corporate treasury strategy.

Heritage believes its position as a commodity producer provides a cushion against Bitcoin’s price fluctuations. The cost of producing alcoholic beverages is lower than the retail price, which allows the company to absorb possible fluctuations in the value of Bitcoin.

CEO Justin Stiefel stated 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 technology lead Matt Swann, will formalize the policy before implementation.