- Heritage Distilling Company unveils Bitcoin treasury strategy
- Nasdaq-listed company now accepting BTC for products and services
Heritage Distilling, a publicly-traded company listed on NASDAQ, has joined the trend of incorporating Bitcoin into its reserve assets.
The distiller announced on Jan. 10, 2025, that its board of directors had given the green light to a proposal to include Bitcoin as a treasury asset. Heritage Distilling is set to start accepting bitcoin payments for its offerings as part of the BTC treasury policy that involves acquiring and holding 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. This provides us considerable financial flexibility as we develop product offerings for users and enthusiasts of bitcoin,” Justin Stiefel, chief executive officer of Heritage Distilling, noted.
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 in Corporate Treasury
Bitcoin adoption as a treasury asset has gained momentum among public and private companies, with MicroStrategy leading the way.
MicroStrategy recently added over $100 million worth of BTC to its holdings, bringing its total Bitcoin holdings to 447,470 BTC. The company now stands as the largest corporate holder of BTC globally.
Following MicroStrategy’s footsteps, other companies like KULR Technology, Thumzup, and Genius Group have also announced Bitcoin strategy policies in 2024. Genius Group, in particular, disclosed on Jan. 10 that it had added $5 million worth of BTC to its holdings.
