The Restaurant with a Crypto Motif that no Longer Takes Bitcoin
- The burger eatery Bored & Hungry didn’t only embrace crypto culture’s look when it originally launched in Long Beach in April. The digital currency component was also fully committed.
- Customers also had the choice of paying for their meals with cryptocurrencies.
- Ethereum and Apecoin, the two e-currencies that Bored & Hungry first accepted, have fallen to around 23% and 17%, respectively.
When Bored & Hungry first opened its doors, the burger joint quickly gained a following among crypto enthusiasts. The restaurant became known for not only its delicious food but also its willingness to accept crypto as payment.
However, the restaurant has recently struggled to keep up with the volatile nature of crypto markets. As a result, they have decided to no longer accept crypto as payment.
This news has disappointed many in the crypto community, who saw Bored & Hungry as one of the few businesses genuinely embracing digital currencies. However, given the current state of the market, it’s understandable why they would want to reduce their exposure to volatility.
It’s unclear why the Bored & Hungry would have stopped accepting crypto payments, but it could be due to a number of reasons. For one, the volatility of cryptocurrencies makes them a less than ideal form of payment for goods and services. Prices can fluctuate dramatically from day to day, making it difficult to price goods accurately.
Additionally, cryptocurrency transactions can take some time to process, which can be inconvenient for customers and retailers. Finally, there’s also the issue of security; because cryptocurrencies are digital assets, they are vulnerable to hacking and fraud. For these reasons, it’s possible that the Apple store decided that accepting crypto payments simply wasn’t worth the hassle.
Of course, this is all speculation; without an official statement from Bored & Hungry, it’s impossible to know why they stopped accepting crypto payments. However, whatever the reason, it doesn’t seem likely that the store will start accepting crypto again soon. So, for now, customers will just have to use good old-fashioned fiat currency if they want to buy anything from the restaurant.
Barry Pene is a stern blockchain research/copywriter. Barry has been trading cryptos since 2017 and has been invested in issues that would put the blockchain industry on the right pedestal. Barry's research expertise cuts across blockchain as a disruptive technology, DeFis, NFTs, Web3, and reduction of energy consumption levels of cryptocurrency mining.
