According to reports, a New York bar owner and crypto enthusiast Patrick Hughes offered to sell his two popular restaurants near Hell’s Kitchen in Manhattan in the form of cryptocurrency.
According to reports, he will accept encrypted payments in the form of Ether (ETH) or Bitcoin (BTC) for the sale of Hellcat Annie’s and Scruffy Duffy’s on 10th Avenue in New York City. The sign in front of the bar reads that the asking price of the two properties is 800 ETH or 25 BTC, which was approximately $1 million at the time of publication.
The 56-year-old local owner in Queens said that the shutdown caused by the global epidemic was one of the reasons for the sale. Hughes reported that he was forced to reduce the number of employees at Hellcat Annie’s and Scruffy Duffy’s by approximately 90%, from 50 before the outbreak in March to “five or six” today.
Although this will be the first case of using crypto assets to trade real estate in New York City, some people on social media have criticized his timing. The price of Bitcoin soared to record highs as the new year approaches, and New York businesses are still suffering from the pandemic.
Bars and restaurants have promoted the application of encryption technology by providing bitcoin payment as a transaction medium. Room 77, a bar and restaurant in Germany, was one of the first physical stores to accept Bitcoin. In May 2011, a customer bought a pint of beer.