- Bored and Hungry restaurant recently announced that they wouldn’t be accepting crypto payments
- The restaurant revealed that people want to hold their Ethereum and don’t want to use it
- People blame the recent fall in the crypto market for the current happenings
Later, this Friday, it was reported that the Bored and Hungry restaurant no longer accepts cryptocurrency as a form of payment for its food.
The burger joint Bored & Hungry didn’t only embrace the aesthetics of the crypto community when it first opened in Long Beach in April. The issue of digital money was also fully committed.
According to the news agencies, when it was questioned about the issue, one Bored & Hungry employee told the agencies:
“Not today — I don’t know.”
The insider didn’t say when the decision was taken to remove cryptocurrency from the list of payment alternatives, nor did they know whether crypto payments would generate a profit.
One of the workers said that customers didn’t appear to be particularly interested in the restaurant’s acceptance of the cryptocurrency, and most of its customers didn’t care about crypto payment alternatives.
Another Bored & Hungry restaurant individual told the agencies:
“Yes, Ethereum is a currency in a way where you can exchange [non-fungible tokens, or] NFTs and stuff … but as far as buying food and all that, maybe not,”
“People want to hold onto their Ethereum. They’re not going to want to use it.”
A 30-year-old customer Richard Rubalcaba added to the statement that revealed during the four-hour wait for Bored & Hungry’s grand launch that he met other cryptocurrency investors and decided to invest in Ethereum. But he also used US dollars to pay for this visit. He said:
“I don’t know how [crypto purchases] would work with the crash.”
The cryptocurrency ecosystem is currently in free fall, with well-known enterprises either taking drastic action to avoid disaster or simply collapsing as cryptocurrencies themselves experience a sharp decline in value.
Many diners at the restaurant acknowledged they weren’t die-hard crypto enthusiasts and only came there for the food.
One of the customers, Jessica Perez, stated:
“We rate this up there with In-N-Out, maybe even better.”
All the statements from the employees and the customers show the crypto ecosystem’s recent downfall has impacted the market from the inside. No one is risking their assets for food anymore; that’s not the case anymore.