Patrick Hughes, a New York bar owner and cryptocurrency enthusiast, sells two popular restaurants in Manhattan’s Hell’s Kitchen for cryptocurrencies.

According to the New York Post, Hughes will accept crypto payments in the form of ETH (ETH) or bitcoin (BTC) for sale to Hellcat Annies and Scruffy Duffy’s at 10th Avenue in New York. Panels in front of the lines indicate the price is 800 ETH or 25 BTC for both properties – around $ 1 million at time of publication.

Image provided by Tamara Beckwith, New York Post
“I hope I arrest one of those people who always wanted to have a coin,” Hughes said, describing the cryptocurrency as a decentralized, global and hot currency.

The 56-year-old Queen’s owner cited the shutdown caused by the global pandemic as one of the reasons for selling. Hughes said he had to cut the number of Hellcat Annies and Scruffy Duffy employees by about 90 percent, from 50 before the March outbreak to “five or six” today.

Despite the apparent first sale of a tape in New York for cryptocurrencies, some on social media have criticized Hughes for now. The bitcoin price soared to new full-time points early in the new year, while businesses in New York were still plagued by the pandemic.

“New York is one of the assets that is depreciating rapidly at the moment due to the mass migration of people leaving the city,” Chuito told Redditor. “Difficult passage”.

Crypto Twitter user Dladowitz said, “It looks like he’s driving buyers for himself.” “Nobody will set a price in BTC with a 30-day blocking period. The price can be doubled.”

Pubs and restaurants have pushed to adopt cryptocurrency by offering bitcoin payments as a medium of exchange. Room 77, a bar and restaurant in Germany, was one of the first traditional companies to adopt bitcoin: a customer bought a pint of beer in May 2011. The establishment closed in October, which according to visitors’ assumptions could be linked to restrictions imposed by the pandemic.

At the time of publication, the Bitcoin price was $ 37,761, down 6% in the past 24 hours. ETH increased 21% in the past week to $ 1,266.

Source: CoinTelegraph