{"id":27501,"date":"2020-08-20T12:26:22","date_gmt":"2020-08-20T09:26:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27501"},"modified":"2025-08-26T21:10:35","modified_gmt":"2025-08-26T18:10:35","slug":"canadian-restaurant-chain-tahinis-converts-all-fiat-reserves-into-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/canadian-restaurant-chain-tahinis-converts-all-fiat-reserves-into-bitcoin\/","title":{"rendered":"Canadian restaurant chain Tahini\u2019s converts all fiat reserves into Bitcoin"},"content":{"rendered":"<p>London, Ontario-based Middle Eastern restaurant chain Tahini\u2019s has converted fiat assets into Bitcoin amid the economic fallout from the COVID-19 pandemic.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">As a small company that started in London Ontario Canada we operate 4 corporate locations and 3 Franshise locations about to open up in Ontario. We just converted our entire cash reserves that were originally used as savings into <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><br \/>\nTime for thread \ud83d\udc47\ud83c\udffd\ud83d\udc47\ud83c\udffd\ud83d\udc47\ud83c\udffd<\/p>\n<p>\u2014 Tahinis Restaurants (@TheRealTahinis) <a href=\"https:\/\/twitter.com\/TheRealTahinis\/status\/1295770434349281281?ref_src=twsrc%5Etfw\">August 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the company\u2019s statement, COVID-related restrictions severely rattled its business. As the situation began to stabilise, the firm faced a new challenge: government relief payments to employees made it more profitable to stay at home than to return to work.<\/p>\n<p>The inflow of fiat enabled Tahini\u2019s to resume a period of rapid growth, but management also came to understand that measures tied to money creation tend to erode their value.<\/p>\n<p>At that moment, Ali Hamam, the company\u2019s chief, began studying Bitcoin through articles, podcasts and blogs by well-known experts. Ultimately he realised that cryptocurrency is a more reliable alternative to fiat money.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">12) And that\u2019s when we as a company decided to store all of our excess cash reserves into <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> as it offers a much better alternative to saving cash. We will continue to do that over the coming years and maybe forever if we don\u2019t have a need for the fiat.<\/p>\n<p>\u2014 Tahinis Restaurants (@TheRealTahinis) <a href=\"https:\/\/twitter.com\/TheRealTahinis\/status\/1295770452892233731?ref_src=twsrc%5Etfw\">August 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cAt that moment, as a company, we decided to store all free cash in Bitcoin, since it offers a much better alternative to fiat. We will continue to do so in the coming years or perhaps forever, if we do not need that money,\u201d wrote Ali Hamam.<\/p>\n<\/blockquote>\n<p>As of now Tahini\u2019s operates four outlets in Ontario, with three more franchise locations expected.<\/p>\n<p>Earlier this month, Nasdaq-listed MicroStrategy <a href=\"https:\/\/forklog.com\/en\/news\/microstrategy-becomes-the-first-nasdaq-listed-company-to-invest-part-of-its-capital-in-bitcoin\">invested<\/a> $250m in Bitcoin. CEO Michael Saylor described it as a more reliable alternative to the US dollar, even though in 2013 he <a href=\"https:\/\/forklog.com\/en\/news\/nasdaq-listed-microstrategy-ceo-who-invested-250m-in-bitcoin-predicted-bitcoins-demise\">predicted<\/a> the imminent death of cryptocurrency.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>London, Ontario-based Middle Eastern restaurant chain Tahini\u2019s has converted fiat assets into Bitcoin amid the economic fallout from the COVID-19 pandemic.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[771,1883],"class_list":["post-27501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canada","tag-economic-crisis-2020"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=27501"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27501\/revisions"}],"predecessor-version":[{"id":27502,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27501\/revisions\/27502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=27501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=27501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=27501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}