This Publicly Traded Distiller Is Launching a Bitcoin Treasury Reserve
Heritage Distilling, a publicly traded company on Nasdaq under the ticker CASK, announced plans to hold Bitcoin as a strategic asset and accept it for payments. This initiative follows the examples set by companies like MicroStrategy, which has amassed a significant Bitcoin treasury. Heritage aims to cater to the growing number of consumers using Bitcoin as both an asset and a currency. CEO Justin Stiefel stated that the company is leading the way in the craft spirits industry by preparing to incorporate Bitcoin into its e-commerce and corporate policies. Despite the positive move, CASK's stock has seen a decline recently, dropping 47% over the past month. The proposal is still subject to board approval, and the company plans to outline a clear policy regarding its Bitcoin strategy.
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