Heritage Distilling Adds $320M Story IP Tokens to Treasury
Nasdaq-listed Heritage Distilling completed a $223.8 million private placement, raising $95 million in cash and $128.8 million in Story IP tokens. The distillery bought over 23.5 million Story IP tokens at $3.40 each, bringing its total holdings to 53.2 million tokens valued at $320 million as of Aug. 22. Backed by Story Foundation, a16z Crypto and other venture firms, the deal also cleared $19 million in debt. Heritage plans to stake the Story IP tokens for yield and support the Story Protocol ecosystem. The move highlights growing adoption of crypto treasury strategies among public companies and helped lift Story’s token price from $2.50 in June to nearly $7.00 in August 2025.
Bullish
This acquisition demonstrates institutional confidence in Story IP tokens and strengthens Heritage Distilling’s balance sheet. Similar to MicroStrategy’s Bitcoin strategy, large-scale token purchases by public companies often drive market sentiment and token demand. In the short term, increased demand for Story IP tokens from institutional purchase and future staking could push prices higher. Over the long term, Heritage’s commitment to staking and supporting the protocol can bolster network growth and liquidity, enhancing token utility and attracting more investors. This dual financial and strategic move is likely to generate positive market momentum and reinforce bullish sentiment for IP tokens and the broader crypto treasury trend.