Another Company Converts its Entire Cash Reserves to Bitcoin


    With the uncertainty over the fiat currency, many have adopted an alternative model of investment, majorly Bitcoin. A Middle Eastern Restaurant announced its shift from fiat to bitcoin.

Restaurants Converting Entire Cash reserves to Bitcoin.

The Self proclaimed ‘Best Middle Eastern Restaurant in the World’, Tahinis Restaurants become another player to transfer their cash reserves to Bitcoin.

The Middle Eastern restaurant on Twitter also elaborated its whole journey with a series of tweets. 

The story on shifting to bitcoin was to indeed save from the uncertainty of the current monetary policy. The FED printing trillions of dollars and the growing inflation in the country is the known fact. Therefore many analysts have predicted that the dollar may face very tough days ahead which might lead to a crash.

You may want to know this – Where is Bitcoin Heading? When Gold Hit $50K if Buffett’s Silver History Repeats

Tahinis Restaurants on Bitcoin – Cash Will be Worthless

However, in the series of the tweet, it was mentioned that the assisting program post-march crisis of the country had left the people with plenty of money but without any work. And hence their cash reserves jumped and business also grew.

“The government assisting programs in Canada made it very hard for us to bring back our partners(employees) as they were making more money staying at home and not working. All of sudden we went from an economic crisis to everyone having a lot of money including us.”

Moreover, the tweet also included the detailed study the team did before investing in Bitcoin by adding, 

“Our Cash reserves swelled and business was booming again. But it was apparent to us that cash didn’t have the same appeal. That eventually with all the excess cash circulating the economy that cash would be worthless,” it further stated.

Tahinis Restaurants Opting Bitcoin Interests Netizens

The move was much admired by the followers. Many even wanted the restaurant to accept bitcoin as the mode of payment which was under consideration as per the response by the restaurant. The tweet had mentioned a crypto bull Anthony Pompliano to understand bitcoin and hence, pomp also cherished this moment.

However, some also presented themselves as the other side of the coin by speculating it to be fake publicity as it had a very small number of twitter followers.

Following the growing uncertainty over the current monetary system, people and entities are preferring Bitcoin as an alternative investment model. 

Certainly, Tahinis Restaurants on Bitcon isn’t the first player in the game. Recently, $250 million also poured in from the Wall Streets when MicroStrategy invested in Bitcoins as their primary reserve. Moreover, many proponents are predicting a very good future for the digital asset. Therefore, SMEs or any other institution which is unsure about the security of their investment can give Bitcoin a try!

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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