In a groundbreaking move for the craft spirits industry, Heritage Distilling Holding Company, Inc. (NASDAQ: CASK) has announced it will begin accepting Bitcoin as payment through its direct-to-consumer e-commerce platform and will hold the cryptocurrency as a strategic asset under a newly approved Cryptocurrency Treasury Reserve Policy.
The policy, approved by the company’s Board of Directors on May 15, 2025, makes Heritage the first in the craft spirits sector to formally integrate Bitcoin into both its payment and treasury operations. This initiative was developed by the company’s Technology and Cryptocurrency Committee, chaired by Matt Swann, an internationally regarded leader in the technology and digital payments space.
NEW: 🇺🇸 Publicly traded company Heritage Distilling now accepts #Bitcoin payments and will hold BTC as a treasury reserve asset 💥 pic.twitter.com/DwiUcYY8A8
— Bitcoin Magazine (@BitcoinMagazine) May 16, 2025
“A new age of commerce is emerging, with cryptocurrencies leading the way to reduce friction between parties, buyers and sellers of goods and services,” stated Swann on behalf of the Board. “Having been immersed in the convergence of technology and currencies for nearly two decades, it is exciting to see Heritage forge headfirst into the opportunity to combine the power of the consumer and cryptocurrency.”
Heritage Distilling, one of the largest craft spirits producers on the West Coast by revenue and North America’s most awarded craft distillery for ten consecutive years, views this move as part of a broader sales and treasury diversification strategy. The company cites estimates that between 65 to 86 million Americans currently hold Bitcoin, representing a significant market opportunity.
Justin Stiefel, Chief Executive Officer of Heritage, commented on the decision: “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 and Dogecoin as a form of payment for online e-commerce sales and to acquire and hold these cryptocurrencies as assets.”
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Stiefel highlighted a unique advantage for companies selling physical products: “Unlike traditional investors who purchase crypto with cash and are immediately subject to potential pricing volatility, as a company producing goods for sale, acceptable margins between the retail price of our products and their cost of production is expected to offset potential fluctuations in the value of cryptos we accept as payment. This provides us considerable financial flexibility as we develop product offerings for users and enthusiasts of these fiat alternatives.”
While Bitcoin will be positioned as a strategic asset to hold long-term, the company will also accept Dogecoin, which it describes as “emerging as the digital coin of choice for paying for goods and services given the following of its fanbase.”
The company’s Cryptocurrency Treasury Policy outlines the internal roles, responsibilities, governance, technology protocols, reporting, and auditing required to implement this initiative. The policy can be found on the company’s investor relations website.
This move comes as more companies explore cryptocurrency adoption for both payments and treasury operations. For Heritage Distilling, it represents not only a technological innovation but also a strategic business decision aimed at connecting with modern consumers while exploring new efficiencies in financial operations.
Heritage Distilling Holding Company is among the premier independent craft distilleries in the United States, offering a variety of whiskeys, vodkas, gins, rums, and ready-to-drink canned cocktails. The company has been expanding its presence nationwide through diverse sales channels, including wholesale, on-premises venues, e-commerce, and its innovative Tribal Beverage Network.
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