Bitcoin is not only a popular source of hedging for institutional investors, but it has started to emerge in the retail markets offering better utility. The consumers of the famous food chain restaurants would be able to use Bitcoin as a mode for payment for placing meal orders. According to a new interview broadcasted on CNBC, the Chairperson and CEO of Landry’s Inc. told the media that about 90% of the restaurants owned by the conglomerate would be accepting Bitcoin as a payment.
Tilman Fertitta told the media that this list is inclusive of Bubba Gump Shrimp Company, Morton’s Steakhouse, and Mastro’s. Fertitta further added that this offer of Bitcoin payment is available for the next 90 days. Depending upon the market response, it could be continued or discontinued in the future.
Interest of Retail Investors is Gaining Momentum
The Bitcoin market cap has been reduced by 300 million recently. The flagship cryptocurrency has been able to get a correction of getting to a support position of $54K. However, financial experts are worried that it needs to find its way back into the $60K mark that would allow it to get out of the current volatile tendency. As Bitcoin’s price decreases, the interest of the retail investors has increased, and many are rushing to increase their Bitcoin holdings.
The Bubba Gump Shrimp Company that has about 30 branches in UK, Japan, Hong Kong, China, Mexico, Canada, United States, and others, is one such example. The restaurant was inspired by the famous movie Forest Gump featuring Tom Hanks as the lead actor. Landry’s Inc. also owns Post Oak Motors Cars that has been accepting Bitcoin payments since 2018.
The US-based restaurants are not the only ones that are accepting Bitcoin payments. Another noteworthy food business that is accepting Bitcoin since 2020 is Just Eat. It is a British online food delivery service that allows its users to place their orders with the help of Bitcoin. The platform is present in more than 13 countries. However, for the time being, this service is only available for the users of France. The user base of this service is massive.
The main reason for gigantic pressure is that Just Eat is affiliated with about 15,000 restaurants. This transition has been made possible by a partnership with Bitpay. The users who wish to place the order with the help of digital assets need to download the Bitpay app that gives them the option of choosing the restaurant from where they can place the order.