Nasdaq-listed Heritage Distilling accepts Bitcoin and Dogecoin in new treasury strategy

Heritage Distilling Holding Company has finalized its Cryptocurrency Treasury Reserve Policy. 

This makes it one of the first craft spirits companies to accept and hold Bitcoin (BTC) and Dogecoin (DOGE) formally, according to the company.

The policy allows the company to accept both cryptocurrencies as payment via its direct-to-consumer e-commerce platform and to treat them as long-term strategic assets.

The company’s board approved the move as part of a broader sales and treasury diversification plan. The initiative was led by the board’s Technology and Cryptocurrency Committee, chaired by digital payments expert Matt Swann. 

Long-term store of value

Heritage believes Bitcoin serves as a viable long-term store of value, while Dogecoin is gaining traction as a transactional currency.

“Heritage has always been an innovator,” said CEO Justin Stiefel. “Unlike traditional investors who buy crypto with cash, we produce goods with built-in margins that help offset volatility.” Stiefel added that accepting cryptocurrencies offers new financial flexibility and helps the company reach a broader customer base.

The company cited data suggesting up to 86 million Americans hold Bitcoin and 83 million wallets hold Dogecoin. Heritage plans to leverage this growing user base, especially as updated accounting standards simplify crypto asset reporting for businesses.

The policy includes detailed governance, reporting, and auditing protocols to manage cryptocurrency operations.

Heritage joins other firms like Genius Group in exploring crypto-based treasury strategies.