Heritage Distilling, a Nasdaq-listed craft distiller, has done just that Announce Its Board of Directors has taken the decision to start holding Bitcoin as a strategic asset.

The Washington-based distillery will also begin accepting Bitcoin payments in order to attract a new group of buyers.

The company noted that a new accounting rule will allow it to report bitcoin holdings at market value. This will make it easier for the distillery to hold cryptocurrency when it comes to accounting.

The company's shares fell 4.61% after Friday's announcement.

Heritage Distilling is known for brands like Elk Rider and Chocolate Whiskey.

Matthew Siegel, head of digital research at VanEck, says it remains to be seen how much bitcoin the company might actually buy if there is no turnaround in profitability.

The alcohol industry started adopting cryptocurrencies a long time ago. For example, Kensington-based Philadelphia Brewing Company became the first Bitcoin company to start accepting the native cryptocurrency as payment since 2014.

As reported by U.Today, a Japanese subsidiary of Ernst & Young has introduced a blockchain-powered service to detect counterfeit products.

Last year, Roehill Springs, a family-run British gin distillery, I started using blockchain To ensure water purity.