Tahinis has been investing net profit in the first cryptocurrency since August 2020 due to rising inflation.
Middle Eastern restaurant chain in CanadaTahinis Increased Profits By 460% With Its Bitcoin Purchase, Business Insider reports. According to the publication, the restaurant chain has been investing its net profit in the first cryptocurrency since August 2020.
Tahinis co-founder Ali Hamam noted that the networkcontinued to invest in bitcoin every month when its value exceeded $ 64 thousand in April of this year. The restaurant chain did not disclose how much of the cryptocurrency it owns, but reported that over the past year its sales exceeded $ 8 million. Tahinis currently owns eight restaurants, and next year the company plans to open 20 new food outlets.
Hamam also clarified that the main reason the company started investing in bitcoin is the rise in inflation.
“Central banks say inflationis only 5%. But that depends on what you want to buy. Poultry grew by 45%, beef - by 25%, imported goods and spices - by 65%, oils - by 110%. So it made sense to invest our money in bitcoin. This will surpass any inflation rate we see in the next decade, ”added the co-founder of the restaurant chain.