In Nigeria, the George Residence is the first hotel to welcome bitcoin

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At the weekend, George Residence, a leader in the shortlet sector, confirmed its intention to use Bitcoin as both a main reserve and a means of payment.

The luxurious shortlet, which first entered the Nigerian hospitality industry in 2020, is becoming the nation’s first apartment-hotel and one of only a few businesses to embrace virtual currencies as payment.

 In a public announcement, CEO Yanju George said that the choice to use Bitcoin as their primary reserve asset was made to protect against fiat inflation. “We have allocated around 50% of our cash reserves to Bitcoin and we hope to increase that as time goes on”, he stated.

He also said that they accepted Bitcoin as a payment method for their residences. They have partnered with Coinnest Africa, a prominent digital currency brokerage company, to facilitate their digital currency transactions.

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“Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind,” Yanju was cited as stated in a conversation only hours after the company announced its willingness to adopt Bitcoin.

The shortlet, which is headquartered in the heart of Lekki, Lagos, has been the favorite destination for top Nigerians, famous figures, and international travelers looking for a premium experience in the previous year.

Guests at the luxurious shortlet apartment can make reservations utilizing the world’s fastest rising currency beginning this week.

Embracing cryptocurrency is undoubtedly appealing to its visitors, as George Residence’s VIP guests are often interested in Bitcoin.

“Bitcoin permits our guests a faster and more secure way to enjoy the comfort we offer,” stated the CEO, Yanju George. “Our residents desire simplicity, and we are excited to be able to offer that to them.”

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