TechFlow news — On November 19, according to an official announcement, e-commerce platform LQR House (Nasdaq: LQR) stated that its board of directors has approved the purchase of up to $1 million worth of Bitcoin as a reserve asset. The company’s alcohol e-commerce platform, CWSpirits.com, will begin accepting cryptocurrency payments and plans to retain up to $10 million in crypto payment revenues.
LQR House CEO Sean Dollinger said, “Bitcoin continues to gain recognition as an asset class, and we believe its scarcity and limited supply make it a modern hedge against inflation and economic uncertainty.” The company will closely monitor its Bitcoin holdings to ensure alignment with market conditions and corporate cash flow needs.
LQR House primarily operates an alcohol e-commerce platform, leveraging software, data analytics, and artificial intelligence to enhance consumer experience. The company noted that this Bitcoin strategy will run parallel to its cost-reduction initiatives and sustainable growth strategy.
