Meet The Restaurant Owner Who Moved His Business Reserves To Bitcoin
This article originally appeared in our Weekly Bits newsletter. If you want our news and analysis before anyone else, make sure you subscribe now! Ali Hamam owns a string of Mediterranean restaurants in Ontario with his brother Omar and cousin Ahmed. You can find him on the TikTok and Twitter accounts for Tahini’s Mediterranean Cuisine, posting videos of himself eating shawarma with rap songs in the background, joking with his wife and campaigning for causes like the Lebanese Food Bank. Like small- and medium-sized business owners around the world, he was hard hit by the spread of....
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A great number of companies have been converting cash reserves into bitcoin during the last few months. At the end of August, the Mediterranean restaurant chain Tahini’s announced the Canadian company converted all of their cash reserves into bitcoin. On Friday, Tahini’s tweeted about the recent crypto reserve conversion, as the team recalled telling the firm’s financial advisor that the precious metal gold and it’s years of being a reliable safe haven are numbered. This year, a great number of private and publicly listed companies have been gathering vast amounts....
Last weekend in Mumbai, digital currency enthusiast Vishal Gupta gave out free dogecoin to the 45 participants that showed up to his monthly meet-up. At least half of the attendees at this event were fresh faces, just getting introduced to the cryptocurrency ecosystem. "The point of giving out free dogecoin is to get people comfortable with the idea of using digital currency," said Gupta. This event was organised by BitterCo.in, Gupta's news and analysis website. It was held at Kolonial, Mumbai's first restaurant to accept bitcoin. The restaurant's owner Tarun Thadani was also in....
“We keep a working capital for about three to six months in cash, and then the rest all goes into Bitcoin,” said co-owner Aly Hamam. More than a year after a Canada-based Middle Eastern restaurant chain converted its fiat cash reserves into Bitcoin, the owner reported the move helped save the business during the pandemic.According to a Tuesday report from Canadian news outlet Toronto Star, when Tahini’s restaurant owners Aly and Omar Hamam and their cousin Ahmed decided to convert the company’s savings into Bitcoin (BTC) in August 2020 because it offered “a much better alternative to....
Bitcoin is starting to become a household name when speaking of online payments and its expansion is spreading not only through the United States, but throughout the world. Latin America, however, seems to be embracing it while other countries seem to resent the idea of decentralization. News from Paraguay is that the first Bitcoin ATM will be installed in a restaurant named “Be Okay” meaning that the restaurant becomes the first business in Paraguay to accept bitcoin. The Bitcoin ATM was installed by the actual owner of the restaurant, Juanjo Benitez Rickmann, who happens to be a bitcoin....
While technological innovation is seldom heard of in the restaurant industry, New York City-based entrepreneur Javier Dutan saw a chance to innovate using Bitcoin. Dutan is CEO of Novaux, a restaurant point-of-sale (POS) system with Bitcoin at its heart. Dutan saw a clear opportunity in the NYC restaurant business, which has over 22,500 restaurants, most of them using point-of-sale systems that charge varying but unanimously high bank fees and charges. He realised that Bitcoin could be just what the restaurateurs needed. The stress of running a restaurant in New York City has certainly not....