A Drink with a Side of Bitcoin: The Unique Sale
In a bold move that marries booze with blockchain, bar owner Patrick Hughes has thrown his two beloved Hell’s Kitchen establishments on the crypto market. Yes, you heard that right: the owner of Hellcat Annie’s and Scruffy Duffy’s is ready to trade drinks for virtual dollars. With a price tag of 800 ETH or 25 BTC, that’s akin to sipping cocktails while taking a dive into the deep end of digital currency.
Why Sell a Bar in a Pandemic?
According to Hughes, the pandemic-induced roller coaster took even the most robust bars for a spin, leading him to drastically downsize his staff. With a team that has dwindled from 50 to just five or six, you could say he’s had more ‘last call’ than most. As he puts it, he’s on the hunt for crypto enthusiasts eager to take the reins of a bar that could be the envy of many, assuming they can manage it.
Mixed Reactions from Social Media
Unsurprisingly, the digital world of opinions hasn’t withheld its punch. While some applaud Hughes for embracing the future, others raise eyebrows over the timing and pricing. One Redditor exclaimed, “NYC is a rapidly depreciating asset right now with the exodus of people leaving the city,” while another Twitter user mused about the logistical nightmares of closing within 30 days with a fluctuating currency. Who would have thought bar ownership could end up feeling like a game of crypto chess?
The Crypto Bar Connection
Hughes isn’t the first to toast to crypto in the hospitality sector. Bars like Room 77 in Germany paved the way for Bitcoin adoption back in 2011, where one lucky customer actually bought a pint of beer with BTC. The mixed success of such ventures serves as a case study in whether crypto is the next frontier for hospitality or just another passing trend. Either way, it seems Patrick Hughes is betting on the future.
Market Fluctuations and Future Prospects
Fast forward to today, and while Bitcoin’s price had dipped slightly to $37,761, Ether is demonstrating a stellar climb, reaching $1,266 after a 21% surge this week. These ups and downs make the volatile world of cryptocurrency a decidedly risky business. Will the allure of owning a piece of New York nightlife entice a collector of digital coins? Only time will tell.
