) in August 2020 because it offered “a much better alternative to saving cash,” the price of the crypto asset was roughly $12,000. Aly Hamam reported the business had benefited from the initial crypto investment.
“We made the move to the corporate balance sheet on a Bitcoin-standard back in August of 2020, and since then, we’re up more than 300 percent on our initial investment,” said Hamam. “It’s really done its job of protecting us against inflation and it worked as we intended it to.”of more than $67,000 in November before dropping to $41,729 at the time of publication.
“We keep a working capital for about three to six months in cash, and then the rest all goes into Bitcoin,” said Hamam. “So, whenever we have an expansion, we’re not forced to sell our Bitcoin to fund that expansion. We try to operate conservatively, where we never have to sell our Bitcoin and we just keep accumulating on our treasury.”, allowing patrons to purchase tokens before, during, or after meals.
“We’re going to continue to strive to make the best food that we can… and with Bitcoin, we’re also wanting to help people financially.”
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