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You can now use your Bitcoins to buy frozen yogurt and Smirnoff Ice. Aerospace expert/restaurateur Steve Davis began accepting the digital currency at his wacky Dupont bar Thomas Foolery about four months ago and at his frozen yogurt shop Mr. Yogato a month ago. The restaurants are the first in the D.C. area to accept Bitcoin, following in the footsteps of the Peruvian Brothers food truck.
“I think it’s cool,” Davis explains simply. He owns Bitcoins but isn’t able to actively use them because not a lot of places in D.C. accept them.
How it works: Bitcoin users have accounts on their phones and scan the QR codes above the registers at Thomas Foolery and Mr. Yogato to transfer their payments. The price of a Bitcoin fluctuates, but right now one Bitcoin is worth about $350. That means a $5 Smirnoff Ice costs around .01 Bitcoin.
Davis says his businesses do two to three Bitcoin transactions a week. Bitcoin enthusiasts now hold regular meet-ups at Thomas Foolery, so on those days, there are as many as 10 to 15 transactions. (The next meet-up is Nov. 4.)
Is this the wave of the future? “I have no idea,” Davis says. “But I like it.” He’s surprised more restaurants haven’t adopted the currency. “It is appealing to customers,” he says, “at least the Bitcoin customers.”
Photo via Mr. Yogato