1/28/2024 0 Comments Bitcoin bar portugal![]() ![]() “The dollar on the world market still has a lot of value.” “I don’t think the dollar is going anywhere anytime soon,” said NYC real estate appraiser Henry Salmon, president of Equity Valuation Associates. Not everyone is sold on crypto just yet, though. “I’m hoping to catch one of these crypto dudes who always wanted to own a bar,” said Hughes, noting that he has put a sign out front to lure in curious potential buyers. ![]() Scruffy Duffy’s and Hellcat Annie’s on Tenth Avenue in Hell’s Kitchen. Hughes laments the suffering the shutdown caused for so many of his friends in the industry, but said the crisis cemented his pre-pandemic desire to get out of the business. Hughes relaunched Annie’s in 2009, after running it as Pony Bar for eight years.) (Hughes and a partner opened Scruffy’s on Eighth Avenue in 1990, then Hughes alone moved it to the current location in 2019. Scruffy Duffy’s remains closed pending the return of indoor dining. He reopened Hellcat Annie’s in November, complete with an open-air cabin on Tenth Avenue, and said that bar sales are nearly back to pre-pandemic levels. He hopes to continue with the art form once he and his wife, with whom he has three kids, move down South if the bars sell. “I played golf, read books, worked on the house and taught myself how to make cartoons,” said Hughes, who launched a Scruffy Duffy’s YouTube channel to display his animated videos. He’s now down to “five or six” but said he has survived better than many, largely by remaining closed throughout most of 2020. Tamara Beckwith/NY Postīefore the pandemic, Hughes employed 50 people at his two establishments. We’re really at a tipping point of its acceptance.” Patrick Hughes has put his bars up for sale for Bitcoin and Ethereum cryptocurrency. “But more and more people look at crypto as a monetary instrument. “I’m not aware of any other bars or restaurants that have been sold for crypto only,” said Charles Cascarilla, CEO of Paxos Trust Company, which specializes in cryptocurrency infrastructure. The sale of Hellcat Annie’s and Scruffy Duffy’s could mark a new chapter in crypto ascendancy. ![]() And federal regulators this week began allowing banks to settle transactions in cryptocurrencies. PayPal introduced a crypto exchange late last year. NFL offensive tackle Russell Okung just had his demand to be paid in Bitcoin fulfilled by the Carolina Panthers. It’s global.”įueled by ever-increasing debt and fears of a devalued American dollar, Hughes is among countless investors, institutions and everyday Americans who see cryptocurrency as a legit alternative to the dollar. “Crypto is on fire, it’s a hot currency,” said Hughes, 56, a Queens native who now resides in Ho-Ho-Kus, NJ, and whose family has been in the Manhattan bar business since 1970. The price tag: 25 Bitcoins or 800 Ethereum tokens for both, a value of about $875,000 by current cryptocurrency prices. This week, Patrick Hughes put his side-by-side Hell’s Kitchen watering holes, Hellcat Annie’s and Scruffy Duffy’s, up for sale. Doom’ celebrates collapse of crypto-linked banks: ‘Good riddance’īitcoin leads crypto rebound after SVB collapse sparked selloffĪ Big Apple bar owner is bowing out - and banking on Bitcoin with what could be the first cryptocurrency-only restaurant sale in the US. Bitcoin price surges past $30,000 for first time in nearly a yearĬrypto fugitive busted in Montenegro months after $40B TerraUSD collapseĮconomist ‘Dr.
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