Business Owner Trying To Sell 2 Manhattan Bars For 25 Bitcoins

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.”