Two US retailers that are actually holding on to their Bitcoins

We report on a number of businesses worldwide that introduce Bitcoin payment processing, and most of those businesses admit that they exchange their Bitcoins for fiat currencies almost immediately.

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Two US retailers that are actually holding on to their Bitcoins

We report on a number of businesses worldwide that introduce Bitcoin payment processing, and most of those businesses admit that they exchange their Bitcoins for fiat currencies almost immediately.

This is to be expected for businesses such as restaurants, which have to pay suppliers quickly on thin profit margins, and most of those suppliers do not accept Bitcoin payments.

The Latin House Burger and Taco Bar in Miami and (possibly) the Crazy Chef Pub & Grill in Milwaukee are bucking that trend, however. Reports this week from a couple of sources indicate both businesses are hanging on to at least some of the Bitcoin they’re paid.

“We started accepting it because we wanted to be part of the future now,” Latin House Burger and Taco Bar owner Michell Sanchez told CNN.

At the time CNN ran the story, Sanchez said he was holding about 11 Bitcoins, and his goal was to accumulate 100 BTC.

“It’s an investment in our future, so we do not convert.”

In Milwaukee, the Crazy Chef Pub & Grill actively incentivizes customers to spend Bitcoins by offering a 10% discount to those who do. Local Bitcoin groups organize regular meetups at Crazy Chef, and Reddit user osirix11 reports that the pub’s owner hangs on to some of the cryptocurrency for investment purposes, as well.

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