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Another restaurant company is adding Bitcoin to its balance sheet. On Everbowlâs website, they claim âAt everbowl, we believe the key to life is motion,â and theyâre putting their money where their mouth is. Under the Bitcoin standard, a new stage awaits this California-based âquick-serve restaurant chain with over 50 locations.â Are they embracing the future of business or is this just a gimmick?
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As Jeff Fenster, Everbowlâs founder and CEO, told Yahoo! Finance:Â
âWeâve concluded that running the business exclusively on cash isnât the most advantageous, nor the safest, method of running a business in 2022 and beyond. Also, I understand that it is still early in terms of corporate adoption, as well as governmental adoption of Bitcoin, but we plan to make a contribution to this cause by leading with our example.â
California-based, craft superfood chain, Everbowl, will now run its business operations off the Bitcoin Standard and is converting cash reserves to #Bitcoin.https://t.co/Fq95HbVF7A
â Michael Saylor (@saylor) February 4, 2022
A few months ago, Bitcoinist brought you Tahinisâ story, which shares a similar feeling as Everbowlâs:Â
âBusiness was booming again, but the owners were studying Bitcoin and the nature of money and the financial system. They understood what was happening. âit was apparent to us that cash didnât have the same appeal. That eventually with all the excess cash circulating the economy that cash would be worth less.â
Thereâs no doubt that cash will progressively be worth less, but, will it become worthless?
Everbowl Is Taking A Stand
Itâs not official yet, but apparently, Everbowl will offer their employees the option to be paid in Bitcoin. This is a new frontier that not Tahinis nor MicroStrategy has touched. In his recent interview with Michael Saylor, Jack Dorsey confirmed that Block pays Spiral BTC employees in BTC, but thatâs an experimental company laser-focused on Bitcoin development.Â
Congratulations guys. Boss move pic.twitter.com/2sVhRCCCyu
â Tahinis Restaurants (@TheRealTahinis) February 4, 2022
Everbowl is another animal altogether, and Fenster thinks the future is now:
âA disruptive growth company should always position itself ahead of the pack and take the lead by adopting new technologies early rather than late. We believe itâs a matter of âwhen,â not âif,â that Bitcoin Standard will become the Gold Standard.â
BTC price chart for 02/05/2022 on Bittrex | Source: BTC/USD on TradingView.com
The Loss Of Purchasing Power
As it happened with MicroStrategy and Tahinis, the reason for Everbowl âs switch to the Bitcoin standard had to do with inflation. The governmentâs rampant money printing is devaluing everyoneâs reserves, itâs as simple as that. Once again, Jeff Fenster:
 âAs CEO, it is my responsibility to constantly keep an eye out for threats facing the company. In light of the excessive debasement of the U.S. dollar coupled with a 39-Year high inflation rate, we knew we had to rethink our treasury strategy. Upon learning more about the Bitcoin Standard and exploring the path ahead, it became more apparent that our organization must adopt it. The value of the cash within our company is eroding at an unsustainable rate. I strongly encourage all business leaders to at a minimum do their own research on Bitcoin to better understand the strategy.â
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Thatâs key, do your own research and decide accordingly. To adopt the Bitcoin standard requires conviction, and only hundreds of hours of research can give you that. There are no shortcuts. That being said, you donât have to be MicroStrategy or Block to add Bitcoin to your companyâs balance sheet. Medium and small businesses can also benefit greatly from this strategy, as Tahinis and now Everbowl will show.Â
This is how Bitcoin wins. From the ground up.
Featured Image by Eiliv-Sonas Aceron on Unsplash | Charts by TradingView
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.