LQR House Inc. LQR, an e-commerce platform specializing in spirits and beverages, on Tuesday announced its Board of Directors’ approval to purchase up to $1 million worth of Bitcoin BTC/USD as part of its treasury management strategy.
What Happened: The company will also accept cryptocurrency payments on its flagship platform, CWSpirits.com, allowing customers to purchase alcohol using digital currencies.
As part of this initiative, LQR House plans to retain up to $10 million of these payments in Bitcoin, further embedding the cryptocurrency into its financial strategy.
LQR House CEO Sean Dollinger stated that Bitcoin’s scarcity and fixed supply align with the company’s broader vision.
“We see a unique opportunity to strengthen our treasury with an innovative investment. Bitcoin’s inherent scarcity and finite supply position it as a modern hedge against inflation,” he said.
Despite integrating Bitcoin into its strategy, LQR House emphasized its commitment to core business operations, including cost-cutting measures and collaboration with new board members to drive sustainable growth.
The company also noted that its Bitcoin holdings would be closely monitored to ensure alignment with market conditions and cash flow needs.
Read Original Article.