George Residence Hotel has become the First Hotel to Accept Bitcoin in Nigeria according to CoinTelegraph. This luxury hotel that offers premium apartment suites in Lagos has announced plans to start accepting Bitcoin payments and also converted 50% of its balance sheet value to Bitcoin. George Residence will accept BTC through Coinvest Africa, a regional cryptocurrency brokerage.
First Hotel to Accept Bitcoin in Nigeria, George Residence
“We have allocated around 50% of our cash reserves to Bitcoin. […] We hope to increase that as time goes on,’’ said ‘Yanju George, the company’s CEO. “Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind.”
He also said,
“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.”
Despite the fact that, Nigeria financial regulators such CBN, SEC and others warnings on cryptocurrencies investments.