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LQR House Inc. (NASDAQ: LQR), a leading e-commerce platform in the spirits sector, has announced a bold move into cryptocurrency by earmarking up to $1 million for Bitcoin purchases as part of its treasury management. The initiative extends to accepting cryptocurrency payments on their CWSpirits.com website, allowing customers to buy alcohol with digital currencies. This strategic pivot not only diversifies their investment but also enhances customer transaction options.
CEO Sean Dollinger highlighted Bitcoin’s acceptance as an asset class as a driving force behind their decision. “Bitcoin’s scarcity and finite supply make it an excellent hedge against inflation and economic uncertainty,” Dollinger stated. By retaining up to $10 million in Bitcoin from crypto transactions, LQR House signals strong confidence in the digital asset’s long-term value and growth potential.
Despite its new crypto-oriented approach, LQR House maintains a firm commitment to its core business and profitability strategies, including cost-reduction plans and collaborative efforts with board members to foster sustainable growth. The company will closely monitor its Bitcoin investments in alignment with its overall financial strategy and market conditions.
