Business Owner Trying To Sell 2 Manhattan Bars For 25 Bitcoins

Start generating passive income through real estate.

Own a piece of your favorite cities through diversified real estate investments in the country's top markets

*Terms and conditions apply. Visit Nada's website for more details.

A New York City business owner is offering to sell his two bars for 25 Bitcoins.

What Happened: Patrick Hughes has put two bars in Manhattan’s Hell's Kitchen neighborhood for sale. The price of 25 Bitcoins comes to more than $1.4 million as of publication time, or 800 Ethers, almost $1.6 million.

Hughes told Yahoo Finance that by putting the price in crypto, he wanted to attract “a different type of buyer, get a little publicity, try to legitimize the currency a little bit.” He also said he would accept U.S. dollars, but he just prefers cryptocurrency. 

Given that the price of Bitcoin has increased by 60% since he posted the sales ad, the owner admits that he might need to cut down the asking price.

“So maybe instead of 25 Bitcoins, perhaps 10 Bitcoins? I don’t know, we’ll see,” he added.

The business owner said he hasn't receive any offers in crypto yet, but he did get a lot of publicity and joked that maybe his stunt was the reason behind the recent meteoric rise of Bitcoin.

Hughes said he is a cryptocurrency investor himself and bought in early. He recently sold all of his BTC holdings at $51,000 and then bought Ethereum.

“It's all going to be cryptocurrency eventually and I don't want to be holding U.S. dollars in a few years when inflation rears its ugly head again. Because it's coming.”

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsRestaurantsMarketsMediaGeneralReal EstateBitcoinEthereumManhattannew yorkYahoo Finance
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!