New York Urban center bar possessor and crypto enthusiast Patrick Hughes is offering to sell two of his popular restaurants in the Hell's Kitchen neighborhood of Manhattan for cryptocurrency.

According to a study from the New York Post, Hughes will accept crypto payments in the form of Ether (ETH) or Bitcoin (BTC) for the sale of Hellcat Annie's and Scruffy Duffy's located on 10th Avenue in New York Metropolis. A sign in front end of the bars states that the request price is 800 ETH or 25 BTC for both properties — roughly $1 million at the time of publication.

Photo courtesy of Tamara Beckwith, NY Mail

"I'm hoping to catch one of these crypto dudes who e'er wanted to ain a bar," said Hughes, referring to crypto equally decentralized, global, and a "hot currency."

The 56-year-quondam Queens native possessor cited the shutdowns caused by the global pandemic as the one of the reasons behind the auction. Hughes reported he had been forced to reduce the number of staff at Hellcat Annie'due south and Scruffy Duffy's by roughly 90%, from 50 people earlier the March outbreak to "five or half dozen" today.

Despite the seemingly first e'er sale of a NYC bar for crypto, some on social media criticized Hughes for the timing. The cost of Bitcoin has surged to new all-time highs entering the new year, while New York businesses are still suffering the effects of the pandemic.

"NYC is a rapidly depreciating asset right now with the exodus of people leaving the city," said Redditor Chuyito. "Hard pass."

"Seems like he's lowering the number of buyers for himself," said Crypto Twitter user dladowitz. "No one is gonna commit to a price in BTC with a 30-day close period for escrow. Could double your toll."

Confined and restaurants accept promoted crypto adoption by offering Bitcoin payments as a medium of exchange. Room 77, a bar and eating place in Federal republic of germany, was i of the first brick-and-mortar businesses to take Bitcoin, with one customer buying a pint of beer in May 2011. The establishment closed its doors in October, which patrons speculating information technology may have been related to restrictions due to the pandemic.

At the time of publication, the price of Bitcoin is $37,761, having fallen 6% in the terminal 24 hours. The price of ETH has surged 21% in the last week to achieve $1,266.

Cointelegraph reached out to Patrick Hughes, but did not receive a response at the time of publication.