With the popularity of Bitcoin and cryptocurrencies, many businesses adopt the new trend and technology towards their business operations. The famous Middle Eastern Restaurant Tahini also has three locations across Ontario just announced that they would swap their cash reserves to cryptocurrencies.
As a tweet published by Tahini’s – ‘the best Middle Eastern restaurant in the world’ – March’s crash has triggered the decision for the switch of fiat reserves to Bitcoin.
To overcome the present financial downfall, both the United States and the Canadian government print more and more fiat currency, thus devaluating the country’s currency. The owner of the Tahini explains the financial system as “a game of musical chairs being played right now and the music will stop and some people will get left out.”
The owner of the restaurant also mentioned that he worries about the monetary systems as more and more money printed. The decision for the swap is mainly made as Bitcoin offers a much better alternative than to save fiat. They will continue to use Bitcoin as a reserve asset.
“As time went on I was constantly trying to learn and grow my knowledge about finance. I heard people in the Bitcoin community saying you have to hear about Bitcoin at least 7 times before you get into it. 100% accurate.”
Tahini to accept Bitcoins
Last week business intelligence company MicroStrategy announced that they adopted Bitcoin (BTC) as the primary reserve asset. They spent approximately $250 million to purchase 21,454 Bitcoins. Tahini believes to be following the same strategy by using Bitcoins as its primary reserve asset.
The attention towards the Bitcoin is changing faster every day. The American multinational conglomerate Berkshire Hathaway managed by Warren Buffett may look at investing in cryptocurrency as a hedge against inflation. Tahini received much support from the crypto community for adopting Bitcoin as their primary reserve asset.
