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Bitcoin is making history, and people everywhere want to be apart of it. The cryptocurrency has attracted all sorts of speculators, ranging from retail investors to institutions, and now even corporations.
It also has one New York bar and restaurant owner wanting to make history by betting his two businesses on Bitcoin and is offering them up for sale in exchange for 25 BTC.
New York Bar Owner Bets His Two Businesses For 25 BTC
Bitcoin has the potential to change the world, and given its limited supply, investors are scrambling for a piece of the action before one full coin because far too expensive it is totally out of reach for most.
At even $40,000 per coin, it likely already is too expensive for most to consider, which has some people considering a historic âhail Mary passâ of a Bitcoin trade in order to get their hands on a decent sum.
Related Reading | Shark Tank Investor Slams Bitcoin, Crypto: âNot An Institutional Productâ
New York restaurateur and bar owner Patrick Hughes is looking to sell his two Manhattan bars â Hellcat Annieâs Tap Room and Scruffy Duffyâs â for the tune of 25 BTC, or roughly $875,000 at the time of this writing.
Hughes is looking to get 25 BTC before the price appreciates too much | BTCUSD on TradingView.com
Why The Owner Isnât Entertaining Traditional Offers And Taking a Chance on Crypto Instead
Hughesâ reason for shopping crypto instead of going the normal real estate sales route is because the market for restaurants and bars in NYC is currently âvery challengingâ to the point where he doesnât think existing business owners would be looking to buy or expand.
Instead, he is looking to âmake history with a bitcoin transactionâ and hopes his story attracts someone with spare BTC who wants to âfurther legitimize the currency.â
Related Reading | Bullish For Bitcoin: US Inflation Expectation Breaks Out From Decade Long Downtrend
Because Hughes is holding out for Bitcoin, heâs not entertaining any traditional offers, nor is he in a rush to sell. Although the market is challenging as he pointed out, he also claims heâs back to pre-Covid sales figures despite one of the two businesses remaining closed.
Hughes, who has been in business for four decades and says it has worn him tired, is âwilling to take the chanceâ on crypto.
âAnd when our government have their finger on the printing press, theyâre going to print more and more and more dollars, inflation is coming back so there has to be alternative,â he added, noting that crypto is âhere to stay.â
Featured image from Deposit Photos, Charts from TradingView.com
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.