As per reports from the New York Post, bar owner Patrick Hughes has put up his two bars for sale, namely Hellcat Annie’s and Scruffy Duffy’s. Other than that, he is accepting ether and Bitcoin as the mode of payment.
The Bar Owner’s Perspective
According to the bar owner, Patrick Hughes is looking forward to being one of the Crypto enthusiasts who always look forward to owning a bar. Apart from that, he is also ready to sell both businesses for approximately 800 Ether and 25 Bitcoin. These are each valued at approximately $975000. Patrick considers crypto as a hot currency as he referred to cryptocurrency to be on fire as per reports.
Purchasing with Crypto is Nothing New
When it comes to purchasing properties and real estate with cryptocurrency, using it is nothing new. Though uncommon to some extent, people still purchase using cryptocurrencies in various parts of the world.
Story of Guo Hongcai
In 2018, an early Bitcoin adopter named Guo Hongcai, who was a beef salesman from China, funneled portions of his wealth out of the nation by purchasing real estate in foreign countries. He is said to have sold 500 Bitcoin within the United States of America and later utilized that amount to purchase a 100000 square foot house in California.
In the case of the bar owner Patrick, he has only got some casual offers, thereby believing that cryptocurrency is the future of this industry. He also believes that people would not be required to run and buy toilet paper in the next crisis