California-based food chain company Everbowl will now control all of its operations. bitcoin announced that they will operate in accordance with the standard and that they will convert their cash reserves to BTC.
The founder and CEO of the company, Jeff Fenster, explained these decisions as follows:
“We concluded that running our business with cash only in 2022 and beyond is neither advantageous nor safe. However, I know that Bitcoin is still in its infancy in terms of institutional adoption. However, with this step, we aim to set an example in this field. A fast-growing company should always position itself ahead of others and use new technologies before others. We know the Bitcoin standard will become the gold standard, the question is when.”
Explaining the details of their decision to switch to BTC, Everbowl said that they did research and talked about this issue in detail with their advisors.
“High Inflation in the USA Made Us Research Bitcoin”
Fenster said that the danger of inflation in the USA was effective in the transition of his company to BTC:
“With the US announcing the highest inflation value in the last 39 years, I realized that we needed to rethink our strategy. As I learned new things about the Bitcoin standard, I thought our company should adopt this technology. The value of our company’s cash is decreasing day by day at an unsustainable level. I advise all business owners to research BTC.”
He said that Everbowl will also offer its employees the opportunity to receive salaries in BTC, and that the official announcement will be made soon.
Fenster also stated that it is not possible for them to adopt the Bitcoin standard 100% at the moment, but they will gradually progress on this path as time goes on.
*Not investment advice