Another restaurant business adds Bitcoin to its balance sheet. At Everbowl website, they claim “At everbowl, we believe movement is the key to life”, and they put their money where they say. Under the Bitcoin standard, a new milestone awaits this “California-based fast food chain with over 50 locations.” Are they embracing the future of business or is it just a gimmick?
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Like Jeff Fenster, Founder and CEO of Everbowl, told Yahoo! Finance:
“We have concluded that running the business exclusively in cash is not the most beneficial, nor the safest, method of running a business in 2022 and beyond. Additionally, I understand that it is still early in terms of corporate adoption, as well as government adoption of Bitcoin, but we plan to make a contribution to this cause by leading by example.
— Michael Saylor⚡️ (@saylor) February 4, 2022
Few months ago, Bitcoinist told you the story of Tahiniswhich shares a similar sentiment to Everbowl:
“Business was booming again, but owners were studying Bitcoin and the nature of money and the financial system. They understood what was happening. “It was obvious to us that cash didn’t have the same appeal. That eventually, with all the excess money circulating in the economy, that money would be worth less.
There is no doubt that money will gradually be worth less, but will it become worthless?
Everbowl takes a stand
It’s not official yet, but apparently Everbowl will be offering its employees the option of getting paid in Bitcoin. This is a new frontier that neither Tahinis nor MicroStrategy has crossed. In his recent interview with Michael SaylorJack Dorsey confirmed that Block pays Spiral BTC employees in BTC, but it is an experimental company focused on Bitcoin development.
Congratulations guys. Boss move 👊🏽 pic.twitter.com/2sVhRCCCyu
— Tahinis Restaurants (@TheRealTahinis) February 4, 2022
Everbowl is a whole different animal, and Fenster thinks the future is now:
“A disruptive growth company must always position itself at the head of the pack and take the lead in adopting new technologies sooner rather than later. We believe it’s a matter of “when”, not “if”, that Bitcoin Standard will become the Gold Standard.
BTC price chart for 02/05/2022 on Bittrex | Source: BTC/USD on TradingView.com
The loss of purchasing power
As happened with MicroStrategy and Tahinis, the reason for Everbowl’s switch to Bitcoin standard had to do with inflation. Rampant government money printing devalues everyone’s reserves, it’s as simple as that. Again, Jeff Fenster:
“As CEO, it is my responsibility to constantly keep an eye on the threats facing the company. In light of the excessive depreciation of the US dollar coupled with a high rate of inflation for 39 years, we knew that we needed to rethink our cash strategy. As we learned more about the bitcoin standard and explored the way forward, it became more evident that our organization needed to embrace it. The value of cash within our business is eroding at an unsustainable pace. I strongly encourage all entrepreneurs to at least do their own research on Bitcoin to better understand the strategy.
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This is the key, do your own research and decide accordingly. Adopting the Bitcoin standard takes conviction, and only hundreds of hours of research can give you that. There is no shortcut. That being said, you don’t have to be MicroStrategy or Block to add Bitcoin to your company’s balance sheet. Small and medium-sized businesses can also benefit greatly from this strategy, as Tahinis and now Everbowl will show.
This is how Bitcoin wins. From the ground.
Featured Image by Eiliv-Sonas Aceron on Unsplash | Charts by TradingView