Bitcoin: Is it a good investment?
Bitcoin does not seem to have many consumers in London’s tech district despite being the fastest-growing asset in the world this year.
According to an east London bar, it has been more than 4 weeks since the cryptocurrency was used to buy a craft beer of a flat white at the Old Shoreditch Station.
Less than 20 people in the last 2 years have paid in bitcoin despite the establishment being situated in the capital’s tech hub and advertised online as one of the few London retailers accepting the virtual currency.
Over the same timeframe, the value of a single bitcoin has rocketed from approximately USD $300 to more than USD $11,000 this week.
Hospitality manager of the bar, Louis Chauvin, believes that Bitcoin’s increasing value and media coverage has not escaped customers. Chauvin says more and more people come into the establishment asking how the cryptocurrency works and may even be considering using it in their own shop, rather than actually paying in Bitcoin.