Bitcoin Now Endorsed by Tilman Fertitta

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Public support for Bitcoin has been growing wild in the past year or so. That’s in addition to being widely accepted by new and old industries at the same time. Bitcoin online casinos have emerged as a very popular industry in the West and Asia, and major companies such as Tesla have been quite vocal in their support for Bitcoin.

The public support grew a few days ago when Houston Rockets CEO and owner of Landry Inc. Tilman Fertitta announced that his restaurants will start accepting BTC as payment. He noted the simple transactions as one of the reasons for adding it to the list of payments, along with the fact that it’s here to stay.

A Major Boost for BTC

Tilman Fertitta is one of the biggest businessmen in the USA. His wealth is projected in the area of $6.4 billion. He owns the Landry Inc. restaurant brands and the Golden Nugget network of casinos, while also being the CEO of NBA team Houston Rockets. It’s fair to say that the 63-year old knows a thing about business or two, so him choosing to support Bitcoin is definitely a huge deal.

In the beginning, Bitcoin payments will be accepted at Mastro’s. That’s one of Landry’s upscale concepts with over a dozen restaurants in the USA. They will start accepting Bitcoin payments as early as this week. Morton’s The Steakhouse and Bubba Gump Shrimp Co., two other Landry Inc. brands, will follow later.

Fertitta noted how easy transactions are completed via Bitcoin. He also said that the transactions are here to stay. “Using it is inevitable and this was going to happen one day,” said the Rockets’ CEO, who clearly understands the concept of Bitcoin.

Fertitta’s comments come just weeks after billionaire real estate developer Rick Caruso stated his plans of accepting Bitcoin as rent payment in his residential and retail properties. Earlier this year, Tesla added Bitcoin as payment option for its popular electric cars. Bitcoin is receiving support like never before, and it’s fueling its sky-scraping price.

Increased Institutional Adoption

While we’re still far off the point where governments widely accept it, Bitcoin has seen huge public support in recent months. Companies such as Tesla have bought it. Goldman Sachs and Morgan Stanley will soon offer wealth management clients’ exposure to Bitcoin. All of this is reflected in Bitcoin’s huge price rallies, driving it past the $50,000 mark.

The coin’s volatility, though, hasn’t changed a bit. Price swings still represent a major obstacle for investors. While it’s currently in the middle of a bull run, the price can still fall 20% or more in a day or two, which leads many to believe that it’s not a currency, but something entirely else.

At the same time, some of the big businesses in the USA agree on one thing – it’s here to stay. With public support from Fertitta and Musk and many other billionaires, Bitcoin is bigger and better than ever. It’s on its way to become a truly tangible asset that may end up being more valuable than oil or gold.

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April 28, 2021: • No Comments

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