Heritage Distilling Company has announced a Bitcoin treasury strategy
The Nasdaq-listed company will accept BTC for its products and services
Heritage Distilling, a publicly traded company listed on NASDAQ, is the latest to adopt Bitcoin as a reserve asset.
The distiller announced on January 10, 2025, that its board of directors had approved a proposal to add Bitcoin as a treasury asset. Heritage Distilling plans to accept Bitcoin payments for its products and services as part of the BTC treasury policy that will see the company acquire and hodl BTC.
“As noted in our policy statement, unlike traditional investors who purchase Bitcoin with cash and are immediately subject to potential pricing volatility, as a company producing goods for sale, acceptable margins between the retail price of our products and their cost of production is expected to offset potential fluctuations in the value of Bitcoin we accept as payment,” said Justin Stiefel, CEO of Heritage Distilling.
Stiefel added: “This provides us considerable financial flexibility as we develop product offerings for users and enthusiasts of Bitcoin.”
HDC board to approve BTC policy
Heritage’s technology and cryptocurrency committee is expected to outline a formal BTC treasury policy, which it will present to the company’s Board for approval. The next steps will see Heritage begin to accept, acquire, hold, and use Bitcoin across its operations.
Bitcoin adoption as a treasury asset has gathered pace among public and private companies, the former led by MicroStrategy.
After acquiring over $100 million worth of Bitcoin this week, MicroStrategy has increased its total Bitcoin holdings to 447,470 BTC. The company is the world’s largest corporate holder of Bitcoin.
Other companies have drawn inspiration from the Michael Saylor-led US-listed company, many announcing Bitcoin strategy policies in 2024. These include KULR Technology, Thumzup, and Genius Group, which announced on January 10 that it had added $5 million worth of BTC to its holdings.
Be the first to comment