Bitcoin has been taking the world by storm. It has now accessed to its own debit cards, its functional in a lot of grocery stores and even e-commerce website. Now a Canadian restaurant chain Tahini has shown keen interest in Bitcoin and has converted all its cash into Bitcoin holdings.
We just converted our entire cash reserves that were originally used as savings into bitcoin, the restaurant said.
“Going through the crisis of March business was tough on us & people were scared to go out to eat,” the company described, adding that times were tough and many people were let go at the time they were trying to expand their business.
However, their expansion has faced some trouble, in the recent times. “The government assistance 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 a sudden we went from an economic crisis to everyone having a lot of money including us,” Tahini’s detailed.
“Our cash reserves swelled and business was booming again,” the company noted, adding: “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 worth less.”