Wondering where to cash your Bitcoins? Tech-savvy holders of the digital currency have been living large in recent weeks at East Sydney’s award-winning The Owl House, one of the first Sydney hospitality venues to accept Bitcoin.
“It seemed to me a currency of the future. Why do we need Australian dollars and the Russian ruble in our global world?” argues Owl House owner Amir Halpert.
He acknowledges concerns over Bitcoin and price volatility, but says so far it is paying dividends.
“I think of it as similar to a credit card. And I can choose to take it as Bitcoins or change it for Australian dollars through an exchange,” he says.
It has also brought a new clientele to Owl House.
“We had a guy in here from New Zealand who was travelling through Australia [funded] on Bitcoin exclusively,” says Halpert.
While he has started his own Bitcoin collection, the Owl House operator says many tips are still in Australian dollars.