Bitcoin Forum

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

Cryptocurrency is taxed in Canada as either capital gains or as income tax, depending on whether your activity with cryptocurrency is considered to be as a business or not. 100% of business income is taxable, whereas only 50% of capital gains are taxable

1) Going through the crisis of March business was tough on us & people were scared to go out to eat. My cousin, my brother & I let a significant amount of our partners (employees) go and were working day and night to keep the restaurants afloat.

2) It was very tough especially that we are going through an expansion phase. With strong will, long hours and determination we were able to keep all of our restaurants cash flow positive. But we were faced with one big problem.

3) The government assistance programs in Canada made it very hard for us to bring back our partners (employees) as they were making more money staying at home and not working. All of a sudden we went from an economic crisis to everyone having a lot of money Including us.

4) Our Cash reserves swelled and business was booming again. But it was apparent to us that cash didn’t have the same appeal. That eventually with all the excess cash circulating the economy that cash would be worth less.

5) Personally I have been an investor with my personal account over the years. I’ve come across #bitcoin
several times but never really paid attention to it thanks to my investor idol @WarrenBuffett
calling it rat poison...

6) As time went on I was constantly trying to learn and grow my knowledge about finance. I kept bumping into #Bitcoin

7) I heard people in the #Bitcoin  community saying you have to hear about #Bitcoin at least 7 times before you get into it. 100% accurate.  It wasn’t until I read @Breedlove22  article The Number Zero and Bitcoin where it all clicked for me.

8) After that it was the #bitcoin Rabbit hole for me. I spent the next couple of months personally accumulating it in my personal account. I read the bitcoin standard by @saifedean  bought more, read The Price of Tomorrow by @JeffBooth bought more.

9) Read @100trillionUSD
 articles bought more, listened to @TraceMayer  bought more listened to @RaoulGMI   bought more, listened to @DTAPCAP  bought more listened to @stephanlivera  @APompliano  @PeterMcCormack
@TheCryptoconomy  @princey1976  bought more.

10) Every time I see @goingparabolic  posting his buys on twitter I would buy more.

11) For me I view #bitcoin  as a true free savings technology that stores wealth across time and space. And it came apparent to me that there is a game of musical chairs being played right now and the music will stop & some people will get left out.

12) And that’s when we as a company decided to store all of our excess cash reserves into #bitcoin
 as it offers a much better alternative to saving cash. We will continue to do that over the coming years and maybe forever if we don't have a need for the fiat.

3) We will not wait for S&P 500 to start doing so. It already started with @MicroStrategy
 and now @TheRealTahinis
 If you want to follow how we are doing in the future and like to see amazing Food content, give us a follow.

It's quite risky considering BTC isn"t considered a safe haven asset necessarily, isn't it?

It's quite risky considering BTC isn"t considered a safe haven asset necessarily, isn't it?

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

New here, but wouldn't it be a safer play to spread the savings over Alternative coins? Despite Bitcoin being the most stable one, this seems to me like putting all of your life savings to buy shares of a single stock.  ::)

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

Smart move. The conversion of their fiat currency into bitcoin is the most bussiness driven decision they have made. They only insured the future of their business as there is no certainty on t he resultant effect of the money printing of the government. At leas they know the exact number of bitcoin they have in ther wallet irrespective of the volatility.

This move can also backfire on the owners as they have brought bitcoin in a period of pump and if the price dumps, which it definitely will, then a lot of their savings will be washed off. I guess, they should have waited for the pump to finish and the market to go down again for getting a good deal, taking bitcoins at an inflated price is not at all a good move to be honest, they should have planned their entry point very well.
Although it is a great initiative and a big leap of faith taken by the restaurant owners to convert their entire savings into bitcoins, I just hope they don't regret it in the short term when the price falls again below $10k, but in the long run they will definitely enjoy watching their investment grow.

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

While it's a very very risky move if they're willing to convert it due to the pandemic, I get what they feel. Restaurants have been pretty brutally affected by the pandemic and as an owner of one, having to close indoor activities (here in Romania at least) and lessening the amount of tables and chairs for outdoor restaurants have drastically lowered down their earnings. BUT, is it the best idea to take it all and push it into BTC? It's quite risky considering BTC isn"t considered a safe haven asset necessarily, isn't it?

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

I’ve visited the @Tahinis’ Twitter account various times per day since he created all the Buzz, and searched around here and there to see if there was any mention of the quantity that was converted into Bitcoin. Alas, there is no mention of it, and certainly no wallet address made public, so we do not know if we’re talking about something substantial here or not. The publicity has been notorious though for the restaurant chain …

Wow, I am very amazed by the actions that were taken by them. They did crazy stuff (in a good way) and somehow, usually there are times when such thing succeed. But in any way that's a very risky move because USD is like a global currency, if anything goes down with it, everyone goes down but at the same time bitcoin is a very risky currency too, it can go down a lot in a matter of seconds and not rise for months but at the same time it can skyrocket. The bogo deal of bitcoin is that it can go doen but can rise without limits.

" He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."