The business of a Bitcoin standard: Profit, people and passion for good food
The Canadian restaurant franchise Tahini’s serves Middle East-inspired food with a Bitcoin-inspired twist.
Since August 2020, when the price of Bitcoin (BTC) was under $20,000, the group has operated on a Bitcoin standard, with any profits it makes swept into BTC.
The Tahini’s Twitter account has since argued that Bitcoin is the “most Islamic” thing Muslims can do with their wealth, and the group educates its customers on sound money. It has even become a niche bear market meme, with Michael Saylor famously saying he might apply to work night shifts at Tahini’s during January’s price correction:
May apply for night shift at @TheRealTahinis to stack more sats. #NewProfilePic pic.twitter.com/ZrirLojvrq
Cointelegraph spoke with Ali Hamam, co-founder and chief marketing officer of Tahini’s, to understand the whys, hows and unintended consequences of operating under a Bitcoin standard. Hamam was the driving force of the Bitcoin adoption in the Middle Eastern chain.
Hamam first learned of Bitcoin in 2016 or 2017 but discarded the innovation as a Ponzi scheme, or “rat poison,” as he was dissuaded by its negative press. It took the COVID-19 pandemic and its real-world consequences for Hamam’s Bitcoin lightbulb moment to take place.
Inspired by the writings of Robert Breedlove — a Bitcoin influencer and entrepreneur — sound money in the form of BTC dawned on him. Hamam said that he and his company needed to find a better way to store value. “Money is going to be worthless,” he said.
Hamam was hooked. He went all in, devouring Bitcoin-focused books, podcasts and, in some cases, not sleeping as he educated himself and fell deeper down the rabbit hole.
Armed with freshly acquired knowledge, Hamam met with his business partners at Tahini’s
Read more on cointelegraph.com
