News 
Coin Information 
About us 
Heritage Distilling, a publicly traded spirits company, announced plans to adopt Bitcoin as a "strategic asset" and payment method, signaling the growing trend of businesses integrating cryptocurrency into their operations.
The Gig Harbor, Washington-based firm, which trades on Nasdaq under the ticker CASK, said on Friday it intends to hold Bitcoin and accept it for payments. However, the move remains subject to board approval. The company plans to draft a policy for review before proceeding with the initiative.
"Heritage has always been an innovator, and once again, we are leading the way in the craft spirits space as we prepare to accept Bitcoin as a form of payment for online e-commerce sales and to acquire and hold Bitcoin as an asset," CEO Justin Stiefel said in a statement.
The company noted the growing consumer base that regularly uses Bitcoin as both an asset and currency. The decision comes amid a broader trend of corporations exploring cryptocurrency adoption to tap into its growing user base and potential for long-term value.
Shares of Heritage Distilling fell 2.5% on Friday, closing at $1.55. The stock has declined 47% over the past month, reflecting broader challenges in the market.
Heritage’s move appears to align with the strategy popularized by MicroStrategy, a software firm that transformed its financial approach by amassing significant Bitcoin holdings. Since its first Bitcoin purchase in 2020, MicroStrategy has accumulated 447,470 Bitcoin—currently valued at $42.4 billion based on a price of $94,781 per Bitcoin. The company’s founder, Michael Saylor, has encouraged other businesses to adopt Bitcoin to enhance shareholder returns and hedge against inflation.
Other U.S.-based public companies have also embraced Bitcoin in recent months. Healthcare firm Cosmos Health (NASDAQ: COSM) and automotive company Worksport (NASDAQ: WKSP) have integrated Bitcoin into their strategies as the cryptocurrency’s price reached new heights.
Heritage Distilling’s move underscores the expanding influence of Bitcoin in corporate treasury strategies, even as its adoption remains a subject of debate in traditional financial circles.
Comment 0