Yesterday, Heritage Distilling Holding Company, Inc. (Nasdaq: Cask), one of the main producers of US artisan artisan spirits, has announced that it will begin to accept Bitcoin as payment through its policy of cryptocurrency reserve reservations directed to consumer (DTC) and will hold Bitcoin as a strategic activities with a cryptocute reserves policy.
The policy, approved by the Board of Directors of the Company in the context of a wider strategy of diversification of sales and the treasure, was developed by the technological and cryptocurrency committee, chaired by the leader of technological and digital payments Matt Swann. The move makes the assets the first in the sector of artisan spirits to formally integrate bitcoin both in its payment and in the treasury operations.
“A new era of commerce is emerging, with cryptocurrencies that opens the way to reduce the friction between parts, buyers and sellers of goods and services,” said Matt Swann on behalf of the Council. “Having been immersed in the convergence of technology and currencies for almost two decades, it is exciting to see the forge heritage headlong in the opportunity to combine the power of the consumer and cryptocurrency.”
Heritage’s decision arrives in the middle of the rapid growing public interest for digital resources. The company has declared to estimate that between 65 and 86 million Americans currently have Bitcoin and Crypto and realizes the opportunity that the assets must acquire more BTC by accepting it as payment.
“Heritage has always been an innovator and once again we are opening the way in the space of artisan spirits while we prepare to accept Bitcoin and Dogecoin as a form of payment for online e-commerce sales and to acquire and retain these cryptocurrencies as resources”, commented the Heritage CEO Justin Stiefel. “As I noticed in the past, unlike traditional investors who acquire cryptocurrencies with cash and are immediately subject to potential volatility of prices, as a company that produces goods on sale, acceptable margins between the retail price of our products and their production cost should compensate for the potential fluctuations of the value of the cryptos value that we accept the payment. This provides a considerable financial flexibility when we have developed financial flexibility when we have developed financial flexibility for users.
The company sees Bitcoin as a long -term strategic resource and a forecast step to connect with modern consumers while exploring new efficiency in financial transactions. Heritage is not only integrating Bitcoin as a payment method, but also incorporates it in its treasure strategy.
The new policy of the cryptocurrency treasure is available here.