Patrick Hughes put up his two side-by-side bars in Manhattan for sale.
The asking price is 25 bitcoins, or about $ 1.4 million. It will also accept 800 Ethereum tokens, which is around $ 1.6 million.
"The point of selling with bitcoin is to attract a different type of buyer, get some publicity and try to legitimize the currency a little," Hughes said. He added that he could accept US dollars as payment, but he prefers bitcoins.
To date, the rate of Bitcoin is increasing sharply. In February alone, it rose by 60% and hit a new all-time high above $ 55,000. This gave the cryptocurrency a market value of over $ 1 trillion.
And because of this, Citigroup predicts Bitcoin could reach $ 318,000 by the end of 2021.
The big jump came from the moment Tesla announced it had invested $ 1.5 billion in BTC, which is also generating interest from financial institutions. Morgan Stanley also said its investment fund is considering a large Bitcoin purchase.
"I might have to lower the price a little," Hughes joked. "Maybe instead of 25 bitcoins, I will sell them for 10 bitcoins? I don't know. Let's just see".
Hughes said there had been no offers yet to buy the bars, but nevertheless he has contributed to the growth of the cryptocurrency by announcing the sale of his bars back in January, when the price of Bitcoin was only $ 30,000.
Hughes is also a cryptocurrency investor. Early on, he sold all of his assets and bought bitcoin even before the cryptocurrency hit $ 51,000. He also bought a rival cryptocurrency, Ethereum.
"Cryptocurrency is the future. And I don't want to hold onto US dollars for many years when inflation depreciates money again," Hughes said.
To add to that, according to Hughes, he has been in the restaurant business for 30 years. He claims that he is "tired" now and that it is time to move on.
If Hughes successfully sold his bars, he could go down in history as the first person to sell his restaurant in crypto in the United States.
"I would like to leave this business at the top of my game and make a big splash, go down a bit in history and just become famous. So I would like to sell it for bitcoin, " he said. "I think that would be great."
