The bar owner wants to sell two New York City irrigation slots for $ 1 million bitcoin

The bar owner wants to sell two New York City irrigation slots for $ 1 million bitcoin

New York City bar owner and cryptocurrency enthusiast Patrick Hughes is offering to sell two of his popular restaurants in Manhattan’s Hell’s Kitchen for cryptocurrencies.

According to a report from the New York Post, Hughes will Acceptance Crypto Payments in the form of Ether (ETH) Or Bitcoin (BTC) To sell Hellcat Annie’s and Scruffy Duffy on 10th Avenue in New York City. The sign in front of the bars indicates the asking price is 800 ETH or 25 BTC for both drugs – nearly $ 1 million at time of publication.

Photo Courtesy Tamara Beckwith, New York Post

“I hope I catch one of those cryptocurrency guys who always wanted to own a bar,” Hughes said, referring to cryptocurrencies as decentralizing, global, and “hot currency”.

The 56-year-old owner of Queens cited the lockdown caused by the global pandemic as one reason behind the sale. Hughes reported he was forced to reduce the number of employees at Hellcat Annie’s and Scruffy Duffy’s by nearly 90%, from 50 people 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 the timing. Bitcoin has a price Jump to all-time high New year, while businesses in New York are still suffering from the effects of the epidemic.

“New York City is one of the assets that is rapidly declining in value right now with the exodus of people leaving the city,” He said Reditor Choyito. “Difficult pass.”

“It appears to be reducing the number of buyers for itself,” He said Twitter cipher user dladowitz. “Nobody will be bound by a price in BTC with a 30-day lock-in period for the guarantee. It could double your price.”

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Bars and restaurants have promoted the adoption of cryptocurrency by offering Bitcoin payments as a medium of exchange. Room 77, a bar and restaurant in Germany, was one of the The first traditional company to accept Bitcoin, With a customer who bought a pint of beer in May 2011. The establishment closed its doors in October, which beneficiaries speculated may have been linked to restrictions due to the pandemic.

At the time of publication, Bitcoin was priced at $ 37,761, after falling 6% in the last 24 hours. ETH increased 21% in the past week to $ 1,266.

Cointelegraph has reached out to Patrick Hughes, but has not received a response at time of publication.