Picture this: a cozy Canadian restaurant dishing out delectable Mediterranean flavors, but with a twist – they're not just serving up falafel and hummus, they're also serving up a side of Bitcoin. That's the tale of Tahini’s Restaurants, a family-owned chain that ventured into the world of cryptocurrency back in 2020, forever changing the game for their business.
The Bitcoin Breakthrough
The Genesis of a Strategy
When the Hamam brothers, Omar and Aly, set foot into the culinary scene with a single London, Ontario eatery, little did they know that their journey would intertwine with the realm of digital currency. Aly, driven by a poignant past of economic strife in Egypt, where inflation devoured their family's savings, found solace in Bitcoin during the tumultuous times of the 2020 market crash.
Bitcoin and the Battle Against Inflation
As traditional currencies fluctuated wildly, Bitcoin emerged as a beacon of stability. With Aly spearheading the charge, Tahini’s embraced a bold Bitcoin treasury approach. This move not only shielded them from the pitfalls of inflation but also armed them to navigate the competitive food industry landscape.
The Journey to Success
The Bitcoin Investment Odyssey
Embracing the ethos of 'buy and hold,' Tahini’s embarked on a relentless journey of accumulating Bitcoin reserves, a move that paid off handsomely. Today, Bitcoin constitutes a staggering 70% of their financial reserves, setting them apart from conventional business practices.
The Power of Dollar-Cost Averaging
Amidst market fluctuations, Tahini’s stood firm, employing a simple yet effective dollar-cost averaging strategy. By consistently investing in Bitcoin regardless of price shifts, they navigated through market volatility with unwavering resolve, a testament to their long-term vision.
Embracing the Future
Pioneering Bitcoin Integration
While the road to Bitcoin acceptance at their restaurants was rife with challenges, Tahini’s pivoted to installing Bitcoin ATMs in partnership with Bitcoin Well. This innovative approach not only bolstered their Bitcoin reserves but also positioned them as pioneers in the evolving landscape of digital payments.
Looking Ahead
Despite hurdles, Tahini’s remains optimistic about the future of Bitcoin payments. With a steadfast belief in the transformative power of cryptocurrency, they continue to pave the way for a new era of financial innovation in the restaurant industry.
As you savor the flavors of Tahini’s delectable dishes, remember that behind every bite lies a tale of resilience, innovation, and a sprinkle of digital magic. The next time you dine at Tahini’s, you're not just enjoying a meal – you're witnessing a culinary revolution, one Bitcoin at a time.
Frequently Asked Questions
How is gold taxed within an IRA?
The tax on the sale of gold is based on its fair market value when sold. You don't pay taxes when you buy gold. It's not considered income. If you sell it later, you'll have a taxable gain if the price goes up.
For loans, gold can be used to collateral. Lenders try to maximize the return on loans that you take against your assets. For gold, this means selling it. The lender might not do this. They may hold on to it. Or, they may decide to resell the item themselves. You lose potential profits in either case.
So to avoid losing money, you should only lend against your gold if you plan to use it as collateral. It is better to leave it alone.
Can I buy gold with my self-directed IRA?
However, gold can only be purchased with your self-directed IRA. To do so, you must first open a brokerage account at TD Ameritrade. You can also transfer funds from an existing retirement fund.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals can contribute up $1,000 per annum ($2,000 if they are married and jointly) directly to a Roth IRA.
If you do decide that you want to invest, it is a good idea to buy physical bullion and not in futures. Futures contracts are financial instruments based on the price of gold. They allow you to speculate on future prices without owning the metal itself. But, physical bullion is real bars of gold or silver that you can hold in one's hand.
Is gold a good investment IRA?
If you are looking for a way to save money, gold is a great investment. It can be used to diversify your portfolio. But gold has more to it than meets the eyes.
It has been used throughout history as currency and it is still a very popular method of payment. It is sometimes called the “oldest currency in the world”.
But unlike paper currencies, which governments create, gold is mined out of the earth. That makes it very valuable because it's rare and hard to create.
The supply and demand for gold determine the price of gold. The strength of the economy means people spend more, and so, there is less demand for gold. The result is that gold's value increases.
On the other hand, people will save cash when the economy slows and not spend it. This increases the production of gold, which in turn drives down its value.
It is this reason that gold investing makes sense for businesses and individuals. If you invest in gold, you'll benefit whenever the economy grows.
Additionally, you'll earn interest on your investments which will help you grow your wealth. Additionally, you won't lose cash if the gold price falls.
How to open a Precious Metal IRA
First, decide if an Individual Retirement Account is right for you. Open the account by filling out Form 8606. You will then need to complete Form 5204 in order to determine which type IRA you are eligible. This form must be submitted within 60 days of the account opening. Once this is done, you can start investing. You might also be able to contribute directly from the paycheck through payroll deduction.
For a Roth IRA you will need to complete Form 8903. Otherwise, the process is identical to an ordinary IRA.
To qualify for a precious-metals IRA, you'll need to meet some requirements. The IRS says you must be 18 years old and have earned income. You cannot earn more than $110,000 annually ($220,000 if married filing jointly) in any one tax year. You must also contribute regularly. These rules apply regardless of whether you are contributing directly to your paychecks or through your employer.
You can invest in precious metals IRAs to buy gold, palladium and platinum. However, physical bullion will not be available for purchase. This means you won't be allowed to trade shares of stock or bonds.
To invest directly in precious metals companies, you can also use precious metals IRA. Some IRA providers offer this option.
However, investing in precious metals via an IRA has two serious drawbacks. First, they aren't as liquid than stocks and bonds. They are therefore more difficult to sell when necessary. Second, they don't generate dividends like stocks and bonds. Therefore, you will lose more money than you gain over time.
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- How do you keep your IRA Gold at Home? It's not legal – WSJ
cftc.gov
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
investopedia.com
How To
Guidelines for Gold Roth IRA
Starting early is the best way to save for retirement. As soon as you become eligible, which is usually around age 50, start saving and keep it up throughout your career. You must contribute enough each year to ensure that you have adequate growth.
You may also wish to take advantage of tax-free investments such as a SIMPLE IRA, SEP IRA, and traditional 401(k). These savings vehicles let you make contributions and not pay taxes until the earnings are withdrawn. This makes them great options for people who don't have access to employer matching funds.
It is important to save consistently over time. If you don't contribute the maximum amount, you will miss any tax benefits.
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By: Juan Galt
Title: Unlocking Tahini’s Success Story: How Bitcoin Revolutionized a Family Restaurant Chain
Sourced From: bitcoinmagazine.com/business/tahinis-bitcoin-treasury-how-a-family-chain-outsmarted-inflation
Published Date: Thu, 26 Jun 2025 17:59:35 +0000
