Heritage Distilling Adopts Cryptocurrency Treasury Policy
Heritage Distilling Holding Company has launched its Cryptocurrency Treasury Reserve Policy.this makes it one of the few craft spirits firms to formally accept and hold Bitcoin and Dogecoin.
The company can now accept these digital currencies as payment through its online store. It also views them as long-term assets. The board approved this move as part of a plan to diversify sales and treasury options.
Technology and Cryptocurrency Committee chair, Matt Swann, led the initiative. Heritage sees Bitcoin as a good long-term value store. Dogecoin,on the other hand,is becoming popular for everyday transactions.
CEO Justin Stiefel explained, “We’re always looking for innovations. By accepting crypto, we gain financial versatility and attract a wider range of customers.”
with millions of Americans holding these cryptocurrencies, Heritage aims to tap into this growing market. The company is also embracing new accounting rules that make it easier for businesses to report crypto assets.
The policy includes rules for governance, reporting, and auditing of cryptocurrency operations. Heritage is following in the footsteps of other firms like Genius Group in adopting crypto-based treasury strategies.
