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Ali Hamam owns a string of Mediterranean restaurants in Ontario with his brother Omar and cousin Ahmed. You can find him on the TikTok and Twitter accounts for Tahini’s Mediterranean Cuisine, posting videos of himself eating shawarma with rap songs in the background, joking with his wife and campaigning for causes like the Lebanese Food Bank.
Like small- and medium-sized business owners around the world, he was hard hit by the spread of coronavirus and resulting economic shutdowns. Yesterday, he took to Twitter to share the struggles that his business has been facing and to promote the solace he’s found in Plan B.
Sharing A Deflationary Journey Into Bitcoin
“Going through the crisis of March … was tough on us and people were scared to go out and eat. My cousin, my brother and I let a significant amount of our partners (employees) go and were working day and night to keep the restaurants afloat,” he wrote.
As Canada granted its citizens free fiat to stay home from work, the government disincentivized Ali’s workers from returning. As business picked back up, he was able to train new employees and found himself flush with the deflationary currency as a result of the stimulus as well.
“Our cash reserves swelled and business was booming again. But it was apparent to us that cash didn’t have the same appeal. That eventually with all the excess cash circulating … it would be worthless,” the thread went on. “And that’s why we as a company decided to store all of our excess cash reserves into bitcoin, as it offers a much better alternative to saving cash. We will continue to do that over the coming years and maybe forever if we don’t have a need for fiat.”
The thread earned some retweets from influential Bitcoin personalities that Ali tagged (he is, if nothing else, a great marketer) and had more than…