The COVID-19 pandemic has made quite an economic impact all over the world, which has led many people to lose their jobs or business opportunities. The rising rate of inflation and limited financial opportunities is one of the reasons why a large audience was attracted to the crypto space over the last two years.
Despite the fact that the crypto space is known to be volatile, the utilities digital assets have to offer are many and undeniable. One of the most recent benefits of investing in Bitcoin has been reported in London.
According to reports, a well-known restaurant was on the verge of collapsing due to a decline in sales, until the owner of the food chain invested in Bitcoin. Let’s find out more details.
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Bitcoin Investment and Encouragement for More Involvement
The popular London restaurant, Tahini, has reportedly made an investment in the flagship cryptocurrency. According to reports, Tahini is a Middle Eastern-themed restaurant that started to see a decline in sales.
The owner of the restaurant, Aly Hamam, stated that the business shifted its attention from corporate-balance sheet to BTC, which saved the food chain from collapsing.
According to Hamam, investing in Bitcoin has proven to be a suitable decision as he stated:
“We made a move to the corporate balance sheet on a Bitcoin standard back in August of 2020 and since then, we’re up more than 300 percent on our initial investment. It’s really done its job of protecting us against inflation, and it worked as we intended it to,”
Previously the restaurant only had three branches, all located in London. However, it has now expanded to four more branches, located in Canada. The owner has also planned to further expand and open at least 20 to 25 more branches by the end of this year.
Tahini has not started accepting BTC as a form of payment yet. However, it invests the fiat profit in Bitcoin. The BTC holdings of the restaurant have been sold, which has made the expansions possible.
The owner noted:
“We keep a working capital for about three to six months in cash, and then the rest all goes into Bitcoin,”
“So, whenever we have an expansion, we’re not forced to sell our Bitcoin to fund that expansion. We try to operate conservatively, where we never have to sell our Bitcoin and we just keep accumulating on our treasury.”
Investing in Bitcoin has worked wonders for the restaurant as it not only saved the business but has been beneficial as well.
This is why the food chain is encouraging people to get involved with BTC by installing Bitcoin ATMs at each restaurant.
Investing in Bitcoin
Bitcoin is the largest digital asset in the world and has an undeniable utility and significance, as can be seen through Tahini’s success. However, the success of the food chain after investing in BTC has also highlighted Bitcoin’s growth as a store of value and hedge against inflation.
The flagship crypto asset is embraced by a large audience all over the world, but whether you choose to invest in it or not is a matter of personal preference.
It is currently trading at $41,994 (at the time of writing) and if you want to purchase it make sure you choose some of the best crypto exchanges in the market.
Novice investors, looking to purchase digital assets such as BTC or ETH can click on SwissBorg or Kraken (U.S. citizens).
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