Beck&Bullow, the reputed food company specializing in meat and seafood delicacies, is again front and center – this time, it’s just not the food that has everyone all ears to the news. Based in Santa Fe, New Mexico, by JP Bulow and Tony Beck, the food provider has found the key to unlocking a new niche. You’ve probably seen the entrepreneurs around if you’re a local and have a knack for visiting farmers’ markets, as they are this involved in their business. And since you’re likely in the know about their offerings, let us amaze you with the news that hit not long ago.
The business owners have been keeping tabs on how the crypto market evolves, how retailers and institutions regard it, what the payment system’s benefits versus risks are, and so on. If you’re a crypto enthusiast, you’re probably, too, investing in how Bitcoin moves, what the Ethereum price prediction of the moment is, and where the two poster boys in crypto are heading. All in a similar way to what the two entrepreneurs have done so far, or more precisely, before announcing that their food company will offer their products in exchange for Bitcoin. So, what else should we know?
The company plans on sticking with Bitcoin for the foreseeable future
The nationally acclaimed seafood and meat company now serves over 1K retailers and restaurants across the U.S., including high-end markets and top-notch hotels. Lately, it’s also exporting protein- and nutrient-filled American buffalo meat, also known as bison, to Mexico. It has committed to keeping Bitcoin on the long-term and the generated revenues in BTC on an indefinite period, emphasizing the glimpse of hope held concerning its potential to rise in mainstreamness. Indeed, a new category of consumers – namely more millennials and zoomers – will be tempted to try their offerings only to see if the food is as innovative as their financial vision.
Future-oriented entrepreneurs believe that just as every piece of their offerings is a testament to craftsmanship and quality, every BTC block transition can help bring a liberated and decentralized system closer. The company plans to keep every BTC payment as savings and convert a fifth of its assets to this digital currency, redirecting it to its treasury reserves.
The 401K program and the new perspective
The company demonstrated its commitment to contributing to a decentralized system where the power is concentrated in the hands of entrepreneurs and customers. Bitcoin’s long-proposed environment is free of external involvement and needs almost zero implications from intermediaries like banks and government bodies. There’s no such thing as banks overseeing and confirming transactions, as the touted system already does all this through blockchain.
As such, Beck & Bulow takes pride in the ways they’re approaching the future of money, extending the use of BTC to their employee 401k program. According to the determined entrepreneurs, they seek to help their team members improve their financial lives by securing a better economic future that’s possible via cryptocurrency. The business owners promote a culture of empowerment where employees have the authority, resources, and tools to make decisions and assume responsibility for their actions.
Bitcoin is a rising trend among enterprises
The decision made by the Santa Fe-born seafood and meat company follows an expanding trend of businesses of all sizes and purposes taking help from companies that smooth out the transition to digital currency. Reserving Bitcoin is becoming the norm among small-to-medium businesses, going beyond the financial perks and into the possibilities untapped to help the brand improve its reputation and image.
The benefits of accepting Bitcoin as payment in their company will take myriad forms, especially as we’re embracing the Web 3.0 era. The risk that usually comes with taking fiat money will be reduced, including the human mishandling of the paper.
Furthermore, Bitcoin can assist the company in raising new funds and enhancing its financial liquidity. While the rules surrounding the crypto space in Santa Fe can be challenging to understand and respect, the entrepreneurs rely on the support of legal financial experts, as does every Bitcoin-oriented company.
In the early crypto days, funds were raised via ICOs. Now, crypto’s advance makes this investment tool redundant. The CEOs of Beck & Bulow may not be the only ones to realize facts like these. Over 15K businesses worldwide take Bitcoin momentarily, and the numbers are only rising. Trends indicate that the leading crypto is becoming more and more popular in New Mexico and that the lighting network’s 2023 collaboration is linked to the expanded adoption of the money.
The company’s undertaking emphasizes the rising intersection between digital money and traditional sectors.
Summing it up
Beck & Bulow implements Bitcoin payments, including the cryptocurrency in their employee 401k plan, to pave the path for a more secure future for their team members. Furthermore, the company plans to convert 20% of its revenue into Bitcoin to keep it in its treasury reserve for an undetermined period.
It seems that not only customers but also employees, stakeholders, and more parties involved in discussions will enjoy new and more accessible payment methods that offer them the flexibility of choice. The giant food processor’s decision comes in light of the increasing demand for Bitcoin, which is reflected in the influxes registered recently.
Furthermore, retailers and institutional investors have long started warming up to crypto. The SEC has greenlighted new Bitcoin-based investment tools, namely spot BTC exchange-traded funds (ETFs), allowing exposure to the asset category to grow.
The move aligns with the business’s philosophy of food and financial sovereignty, so many more financial-savvy practices could be learned from the forward-looking company. So far, as more companies jump on the bandwagon and embrace Bitcoin as a store of value, the asset’s mainstreamness has risen.
Beck & Bulow is the most recent example of a future-oriented company that bridges the gap between traditional and modern money, so it will sure be an exciting year for the innovation-centric company!