Tahini's, a Canadian restaurant chain, has moved all of its cash reserves to BitcoinCanadian Middle Eastern restaurant chain Tahini's has announced the conversion of all its cash reserves to Bitcoin.
Tahini network of Canadian restaurants&'S moved all cash reserves to bitcoin
Tahini, a Canadian chain of Middle Eastern restaurants&# 039; s announced the conversion of all its cash reserves to bitcoin.According to the company on Twitter, the crisis amid the coronavirus pandemic hit restaurateurs hard as people almost stopped visiting their establishments..
“We were able to maintain profitability, but the Canadian government's support programs made it difficult for our employees to return as they received more money if they stayed at home. Suddenly, from the economic crisis, everyone turned to an abundance of money, including ourselves. Our cash reserves grew and our business began to thrive again, ”says Tahini&& # 039; s.
However, the company has come to the conclusion that fiat currency is losing its attractiveness and value due to its oversupply in the economy..
“I see bitcoin as a true free saving technology that allows you to preserve value in space and time,” writes the author of the post. - It became clear that there was a game of musical chairs. Soon the music will stop and someone will be left on their feet. Then we as a company decided to store all surplus cash reserves in bitcoin, because it offers a solution that surpasses storage in fiat currency. ".
Tahini&# 039; s claim that they plan to use bitcoin to save reserves for the next years or even forever if they do not need this money for their current needs.
Yesterday, a similar statement was made by the author of the crypto podcast Peter McCormack, who decided to invest all his non-working capital in Bitcoin. Shortly before that, MicroStrategy announced the move to bitcoin reserves worth $ 250 million.
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