Two bars in New York City can be bought for a combination of 25 bitcoins or 800 ether – over $ 800k at current prices. Bar owner Patrick Hughes has seen the worst of the Covid-19 pandemic on his operations and decided to sell the two bars for crypto.
● “Crypto is on fire, it’s a popular currency,” Hughes told the New York Post on January 9. ‘It’s decentralized. It’s global. The decision of 56-year-old Ho-Ho-Kus, NJ, may have been prompted by bitcoin’s recent bullish run – and also by the need to maintain value against a declining dollar.
● Hughes sells his side-by-side Hell’s Kitchen outfits, Hellcat Annie’s and Scruffy Duffy’s, both located on Tenth Avenue for cryptocurrency only, the report said. The man’s family has been in the Manhattan bar business since 1970, it added, although these two bars opened later.
● “I hope to catch one of these crypto dudes who have always wanted a bar,” said Hughes. He used up a bitcoin (BTC) sale sign for the bars, but questions were mostly casual. The bar owner remains optimistic, a serious buyer comes along.
• Prior to the pandemic, Hughes employed up to 50 people at his two facilities, but now it’s only “five or six” people. Businesses remained largely closed for most of 2020, according to the report. Hellcat Annie reopened in November, but Scruffy Duffy’s remains closed.
● More people are starting to see the monetary value of bitcoin. In September last year, the American aircraft sales company Aviatrade Inc. it would accept BTC as a means of payment for its luxury jets. The first plane to go on sale for crypto was a six-year-old Gulfstream G650ER, which sold for $ 40 million or its bitcoin equivalent.
What do you think of the two New York bars selling for bitcoin? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Scruffy Duffy’s, Twitter,
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