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The fact that the Canadian restaurant chain Tahini’s converted all cash reserves into bitcoin was reported back in 2020. The move turned out to be the right one – it allowed us to save the business and even expand it.
According to the Toronto Star, Tahini’s previously consisted of just three outlets. Now it has grown to nine locations across Ontario, and by the end of the year, management hopes to increase the number of restaurants to 20 or 25. The opportunities for this appeared precisely due to investments in bitcoin, which gave a 300% return. One of the owners of the chain Ali Hamam (Aly Hamam) said:
“Everything was closed when the coronavirus came our sales were down 80% in a week. It was terrible, we worked around the clock to save our restaurants. We decided to convert our cash holdings to bitcoin back in August 2020 and since then the investment has generated a 300% return. The decision really justified itself as a hedge against inflation and even exceeded our expectations.”
According to Hamam, restaurants are now holding a cash reserve to maintain operations for 3-6 months. The remaining funds are invested in the first cryptocurrency. Profit allows you to expand the restaurant chain even without the need to sell bitcoin stocks. Interestingly, none of Tahini’s restaurants accept bitcoin or other cryptocurrencies as payment. However, every restaurant has a cryptomat.
Recall that the owners of Tahini’s invested in bitcoin in August 2020. At that time, BTC was worth about $12,000. True, the amount of the initial investment is still unknown.
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