Adoption or FOMO? Bar proprietor presents to promote two shops for Bitcoin

© Reuters. Adoption or FOMO? Bar owner offers to sell two outlets for Bitcoin

Patrick Hughes, a New York City businessman has opted to sell two of his bars for either or . The two adjoining bars (Hellcat Annie’s and Scruffy Duffy’s) are located in Hell’s Kitchen and have been put up for sale for either 25 Bitcoin or 800 Ether.

With Bitcoin falling to around $30,500 both bars would be worth about $760,000. It is interesting to note that when Hughes placed the sign to sell in front of his bar, Bitcoin was trading in the $40k range, and he might have made around $1 million if you got an instant offer. However, in less than 24 hours, Bitcoin along with the general cryptocurrency market has taken a nosedive and appears to be correcting.

If Hughes manages to sell, this would be the first crypto-only restaurant sale in the U.S. According to the bar owner, “I’m hoping to catch one of these crypto dudes who always wanted to own a bar.”

As per his reasons for selling, the 56-year old Queens native owner blamed the global coronavirus pandemic. He claims to have reduced his staff at both locations by roughly 90%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments are closed.