I can not say companies in Nigeria are dawning to know about Bitcoin, but that this initiation can be the beginning of hotels and many other companies in Nigeria starting to get involved in bitcoins usage as reserves and as a form of payment methods. This hotel located in Lekki, in Lagos State will be the first of its kind to make a decision of moving towards accepting bitcoin as a form of payment and as the hotel's major reserve.
George Residence, a frontline player in the hospitality sector, has announced its decision to adopt Bitcoin as its primary reserve as well as a form of payment.
George Residence is a luxury shortlet which came to the forefront of the Nigerian hospitality industry in 2020. Chief Executive Officer CEO, ‘Yanju George, made the announcement in a statement released to the media. Further, he disclosed that the decision to make Bitcoin their primary reserve asset is to hedge against fiat inflation.
‘‘We have allocated around 50% of our cash reserves to Bitcoin…We hope to increase that as time goes on,’’ he revealed. “Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind.
“Bitcoin permits our guests a faster and more secure way to enjoy the comfort we offer. Our residents desire simplicity, and we are excited to be able to offer that to them,” the CEO had stated.
I am thinking this is just the beginning of hotels in Nigeria to beggining to accept Bitcoin as a form of payment, and as a reserved asset.