- Heritage Distilling Company announces a Bitcoin treasury strategy
- The Nasdaq-listed company will accept BTC for its products and services
Heritage Distilling, a publicly traded company listed on the Nasdaq, is the latest business to adopt Bitcoin as a treasury asset.
The distillery announced on January 10, 2025, that its board approved a proposal to include Bitcoin in its treasury holdings. As part of the new BTC treasury policy, Heritage Distilling plans to accept Bitcoin payments for its products and services and to acquire and hold BTC as a corporate asset.
“As noted in our policy statement, unlike traditional investors who buy Bitcoin with cash and are immediately exposed to potential price volatility, a company that manufactures goods for sale can reasonably expect acceptable margins between the retail price of our products and their production costs to offset potential fluctuations in the value of Bitcoins we accept as payment,” said Justin Stiefel, CEO of Heritage Distilling.
Stiefel added, “This provides us significant financial flexibility in developing product offerings for Bitcoin users and enthusiasts.”
HDC board approves BTC policy
Heritage’s technology and crypto committee is expected to draft a formal BTC treasury policy for submission to the company’s board for final approval. The next steps include rolling out Bitcoin acceptance across its operations and beginning to acquire, hold, and use BTC on the company balance sheet.
Adopting Bitcoin as a treasury asset has gained momentum among both public and private companies, with MicroStrategy leading the trend. After acquiring over $100 million in Bitcoin this week, MicroStrategy increased its total holdings to 447,470 BTC, making it the largest corporate holder of Bitcoin globally.
Inspired by Michael Saylor’s MicroStrategy, several other publicly traded firms announced Bitcoin treasury strategies for 2024 and beyond. Examples include KULR Technology, Thumzup, and Genius Group, which on January 10 disclosed an increase in its BTC holdings worth $5 million.