Craft superfood chain, Everbowl, based in California, is now running all its operations on the Bitcoin Standard, converting its cash reserves into Bitcoins.
We’ve concluded that running the business exclusively on cash isn’t the most advantageous, nor the safest, method of running a business in 2022 and beyond. Also, I understand that it is still early in terms of corporate adoption, as well as governmental adoption of Bitcoin, but we plan to make a contribution to this cause by leading with our example. A disruptive growth company should always position itself ahead of the pack and take the lead by adopting new technologies early rather than late. We believe it’s a matter of “when,” not “if,” that Bitcoin Standard will become the Gold Standard.
Jeff Fenster, Founder and CEO – Everbowl
Everbowl says that as a part of the decision to move to Bitcoin, the company conducted research and spoke with its advisors about options available for their treasury as well as how to run their business in the future.
As CEO, it is my responsibility to constantly keep an eye out for threats facing the company. In light of the excessive debasement of the U.S. dollar coupled with a 39-Year high inflation rate, we knew we had to rethink our treasury strategy. Upon learning more about the Bitcoin Standard and exploring the path ahead, it became more apparent that our organization must adopt it. The value of the cash within our company is eroding at an unsustainable rate. I strongly encourage all business leaders to at a minimum do their own research on Bitcoin to better understand the strategy.
Jeff Fenster, Founder and CEO – Everbowl
As part of its plans to formally announce this soon, Everbowl is also offering its employees the option to be paid in Bitcoin.
While we understand it is not possible to convert 100% of our business operations to the Bitcoin Standard at this time, we will increase our adoption and conversion as more access points become available.
Jeff Fenster, Founder and CEO – Everbowl
Tahinis, a Canadian restaurant, converted all of its cash reserves into bitcoins in 2020 as part of its Bitcoin initiative. As a result of the boost sound money gave its business, the group was able to expand across Ontario a couple of years later.
