The company plans to keep its entire savings in cryptocurrency unless there’s need for fiat
Tahinis, a chain of Middle Eastern restaurants from Ontario, posted news in a Twitter post about converting all its cash reserves into bitcoin for savings purposes.
According to the company, the fiat currency is losing its appeal and value due to its excess in the economy while bitcoin is a true free savings technology that stores wealth across time and space.
“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… 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… 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,” reads the thread.
The company adds that bitcoin as reserve will be used indefinitely, unless there’s a need to use the fiat.