The number of publicly traded companies that adopt Bitcoin The standard is growing, and the latest to launch on the orange coin is spirits company Heritage Distilling.

Heritage Distilling, whose shares trade on the Nasdaq under the ticker CASK, said on Friday that it will begin holding the cryptocurrency as a “strategic asset” and accepting payments. The plan is subject to approval, and Heritage will first draft a policy plan for the board to get the green light before anything happens, the company said.

But the Gig Harbor, Washington-based company said it "values ​​the millions of consumers who already own and use Bitcoin as an asset and as a currency on a regular basis."

“Heritage has always been an innovator, and once again we are leading the way in the 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,” Justin Stifel, CEO of Heritage, said in a statement. "

CASK ended the day down 2.5% at Priced at $1.55. The stock price has fallen 47% over the past month.

The company may have drawn inspiration from MicroStrategy – the quiet software company turned Bitcoin treasury giant.

Accurate strategy Bought for the first time Bitcoin in 2020 as a way to get greater returns for shareholders and fight inflation. It now owns a total of 447,470 bitcoins, which at the current price of $94,781 is worth $42.4 billion. MicroStrategy's founder, Michael Saylor, has argued that other companies should follow suit to get the best returns for shareholders.

Other public US companies - albeit smaller ones - did the same last year as the price of Bitcoin reached new highs, with... Healthcare company Cosmos Health (NASDAQ:COSM) automobile company Action sports (NASDAQ:WKSP) are notable examples.

Modified by Andrew Hayward