The post Heritage Distilling Adopts Bitcoin Treasury Policy appeared first on Coinpedia Fintech News
In a latest development, Heritage Distilling Holding Company, a leading craft distiller of innovative premium brands, has announced the adoption of a Bitcoin Treasury Policy.Â
This policy is part of a broader corporate sales and treasury diversification strategy which will enable the Company to lead the craft spirits industry in accepting Bitcoin as payment for products through its e-commerce platform.Â
The company will also acquire and hold Bitcoin as a strategic asset. This move follows the creation of a new committee focused on technology and cryptocurrency, chaired by Matt Swann. Notably, this makes Heritage the first publicly traded spirits company to integrate Bitcoin into its business model.
Heritage Distilling believes its lower production costs compared to retail prices provide a cushion against Bitcoin price fluctuations. This allows the company to accept Bitcoin as payment while minimizing risk, unlike traditional investors who buy Bitcoin with fiat currency.
It explained that since the cost of producing goods is lower than their retail value, the company has a built-in margin that protects it against Bitcoin price fluctuations. This margin, combined with the potential for Bitcoin to increase in value, outweighs the risk of Bitcoin’s price falling.
“The benefits of attracting a new set of buyers, consumers and fans along with the margin cushion the Company can create, coupled with the potential to see bitcoin increase in value, more than offsets the risk of loss if the price of bitcoin were to fall at any one time or over a given period of time,” the company’s policy statement noted.Â
