Encash Your Bitcoin Holding At This Singaporean Bar As New Year Starts With A Bang
Thinking of how to mark the beginning of this new year in a crypto powered way? Well you can head out to Skyline, a Singaporean bar which has been making the right kind of noise with its recent antics. The club terms itself as the World’s Highest Crypto Club set on the 45th floor of a luxurious skyscraper which overlooks the glittering waterfront of the city-state. It offered a New Year’s Eve package which consisted of butler service and limousine pick-up in exchange of one whole Bitcoin. Party revellers who were in the lookout for a means to usher in 2018 with pomp and grandeur were promised a fun-filled night out with flowing champagne which could be relished in the company of soft oysters and premium caviar. But with bitcoin’s price hovering around the $15000 mark at the time of writing this article, party goers shall have to pay a hefty amount for availing the same. Subaish Rajamanickam, the property manager claimed that a lot of inquiries were received about the package although no one had signed up for the same.
This brilliant idea came after the bar pulled off similar events previously with much sass most of which catered to the people living in the booming fin-tech sector of the city. All of them centred around cryptocurrency as a means of payment. Skyline is the first Singaporean club which has started accepting crypto powered payments. But the immense volatility has made customers sceptical about using cryptocurrency as the ultimate payment mode. In spite of having tremendous advantages, the frequent price fluctuations have hindered digital tokens from gaining supreme acceptance. Rajamanickam told AFP that,
“We had a couple of cryptocurrency after-parties here, and we have also themed a night ….called Crypto Thursdays.”
Since its incubation days back in 2009 as an encrypted software, Bitcoin has travelled miles into becoming the penultimate transaction medium of the millennium which can be used for buying everything from pizzas to cars to apartments.
Tourism industry has also added impetus to the growth curve of bitcoin after online travel giant Expedia opened its gate to Bitcoin acceptance. The value of Bitcoin underwent bombastic growth of 25 times in the last fiscal and hit record high of $19500 in early December. Analysts feel that the surge in Bitcoin futures trading fostered by CBOE and CME have triggered this rhetoric rise in bitcoin value.
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Tarunima Ghosh Laha is a Finance Post Grad from St. Xaviers who believes Finance is more than just Balance Sheets and Ledger creation. This filmy bookworm who believes she was a sloth in past life also nourishes a penchant of owning a private zoo someday. Equipped with a laptop and online Lexicon she is all set to give finance a glamorous makeover in the form of exciting writeups with bang on info and flashy new words.