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29 March 2024
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Everbowl reveals taking a shift to Bitcoin Standard, entire cash reserves into BTC

  • California-based superfood chain Everbowl recently revealed its decision of turning the operations to Bitcoin Standard.
  • It’s early for corporate and governmental adoption of BTC, and they plan to set an example by contributing to the cause, says Jeff Fenster, Ceo and founder of Everbowl.
  • They might soon announce to provide an option to employees for payment in BTC and are continuously looking for ways for Bitcoin adoption.

Everbowl, the superfood chain based in California, has recently announced shifting its business operations to a Bitcoin standard. It would be converting its cash reserves to the leading cryptocurrency. 

Everbowl disclosed the decision through a published announcement. The California-based superfood chain has researched and discussed with advisors about the possible options to move the finance operations to BTC. And also on how to conduct and operate a company using a Bitcoin standard.

According to Jeff Fenster, the CEO and founder of Everbowl, operating the business exclusively on cash is not the safest and most advantageous method to run a business in 2022 and upcoming years.   

What led to the Bitcoin Standard adoption:

Fenster further highlighted that it is still early for Corporate and governmental adoption of BTC. And that the company plans to contribute to the cause by leading with the example. 

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He believes that a disruptive growth company should take the lead in adopting new technologies keeping itself ahead of the pack. And they should do it earlier than later. And that the Bitcoin standard is going to be the gold standard in the future.

The decision of changing the treasury strategy was taken, keeping in mind the 39-year high inflation rate. And when they learned and explored more about the Bitcoin standard, it became clear that they should adopt it. 

But he encourages other organisations and companies to first research on their own and thoroughly understand the Bitcoin standard strategy. 

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The superfood chain company further plans to offer the option of getting paid via Bitcoin to its employees. And might announce it soon on a formal basis. 

According to Fenster, they do understand that the 100% Bitcoin standard is not possible for their business operations. Still, as the access points become available, they will increase the adoption and conversion. 

Last year a Canadian family restaurant converted the whole of its fiat reserves to Bitcoin and reported that the strategy is working great for them.

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The adoption of Bitcoin Standard is a big decision for any company because the crypto industry isn’t free from scepticism and doubts. But it’s interesting to see that some people criticise digital currency, whereas some are entirely trusting them. 

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