Heritage Distilling Holding Company, Inc. has announced a new move to embrace cryptocurrency by introducing a Bitcoin Treasury Policy Statement. This decision is part of the company’s plan to expand its sales strategies and financial options, making it a leader in the craft distilling industry when it comes to accepting bitcoin.
The company plans to start accepting bitcoin as payment on its e-commerce platform for direct-to-consumer sales. It also aims to acquire and hold bitcoin as a valuable asset for the future.
This step is guided by Heritage’s Board of Directors, which recently formed a Technology and Cryptocurrency Committee led by Matt Swann, an expert in digital payments.
Heritage believes bitcoin is a strategic asset that will help them connect with millions of consumers who already use cryptocurrency. The company noted that the rising use of bitcoin by individuals, financial institutions, and policymakers makes this an opportune time for businesses to join the trend.
The Financial Accounting Standards Board’s updated rules for valuing bitcoin make it easier for public companies like Heritage to manage bitcoin on their financial records.
Heritage’s CEO, Justin Stiefel, stated that the company’s production process provides a unique advantage in managing the risks of bitcoin’s price fluctuations. Since the cost of making their products is lower than their retail price, any potential drop in bitcoin’s value would be offset by their profit margins.
Matt Swann, chair of the Technology and Cryptocurrency Committee, shared his enthusiasm, calling the move a significant opportunity to position Heritage as a leader in the craft distilling industry. He stated that bitcoin’s growth is still at an early stage and accepting it as payment is a step toward improving customer experiences and staying ahead of competitors.
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With this policy in place, the company will now draft a detailed plan to guide its use of bitcoin. This will include accepting payments from customers, holding bitcoin as an asset, and potentially paying vendors in bitcoin.
Heritage is a leading craft distillery in the United States, known for its award-winning whiskeys, vodkas, gins, rums, and canned cocktails. It has been North America’s most awarded craft distillery for ten years, receiving top honors at national and international competitions. As one of the largest craft spirit producers on the West Coast, Heritage is expanding nationwide through wholesale, e-commerce, and partnerships.
A key initiative is the Tribal Beverage Network, a collaboration with Native American tribes. This partnership focuses on creating distilleries, brands, and tasting rooms for tribal communities. The program supports tribal sovereignty while generating economic and social benefits.
