Beck & Bulow Adopts Bitcoin as a Treasury Reserve Asset
Meat company Beck & Bulow adopts Bitcoin for payments, employee 401Ks, and treasury reserves.
Beck & Bulow, a nationally acclaimed meat and seafood company based in Santa Fe, New Mexico, has announced its decision to accept Bitcoin as payment online and in-store, as well as include it in their employee 401k program. The company has also committed to holding Bitcoin and revenue generated in Bitcoin in its reserves indefinitely.
Founded in humble beginnings, working farmers markets and selling meat door-to-door, Beck & Bulow has grown to play a much bigger role in the meat supply chain in New Mexico. The company now serves over 1,000 restaurants and retailers across the United States, including luxury hotels and high-end markets, and has recently begun exporting bison to Mexico.
The decision to adopt Bitcoin aligned with Beck & Bulow's philosophy of financial sovereignty and food sovereignty, the company said in a press release sent to Bitcoin Magazine. Beck & Bulow believes that "Just as every cut of meat tells a story of quality and craftsmanship, every Bitcoin block verifies a step towards a more decentralized and liberated future."
The company will also hold all Bitcoin payments as savings and has committed to converting 20% of its assets to BTC to keep in its treasury reserves.
By extending the use of Bitcoin to their employee 401k program, Beck & Bulow says they want to invest in the financial futures of their team members and foster a culture of empowerment and forward-thinking.
The adoption of Bitcoin by Beck & Bulow follows a growing trend of businesses, both large and small, following the lead of companies like MicroStrategy in adopting the Bitcoin standard. Reserving in Bitcoin has become increasingly popular among small businesses, not only for its potential financial benefits but also for the marketing opportunities it presents.
As more companies embrace Bitcoin as a means of payment and a store of value, Bitcoin continues to gain mainstream acceptance. Beck & Bulow's decision to adopt Bitcoin demonstrates the growing intersection between traditional industries and Bitcoin.
