Room 77, the German bar and restaurant that claims to be the world’s first retail establishment to accept bitcoin payments, has closed. Cypherpunk Holdings chief economist Jon Matonis broke the news on Twitter. Bar owner Jorg Platzer later confirmed this on Reddit.
“Room 77 is closing for good,” Platzer revealed in a rather futuristic celebratory article on Oct. 18. “We believe that our mission is accomplished and that it is time to return to our planet. Thank you for all the fish and the generous tips! “
No official reason has been given for the closure of the Berlin-based joint. But there are suspicions that it could have been linked to the coronavirus pandemic. Lockdown restrictions linked to Covid-19 have hit the global hospitality industry hard.
In Berlin, strict restrictions on the sale of alcohol remain in place, with bar-bars being banned from selling the product from 11 p.m. to 6 a.m. The measures severely affected profits.
Located in Kreuzberg, Berlin, Room 77 began accepting bitcoin (BTC) as a payment method in 2011, becoming the first bar, and possibly the first private outlet, to do so. Since then, the drinking point has become something of a pilgrimage site for bitcoiners, who frequent the place for their BTC payments and more.
“Prior to doing this (accept BTC) all the bitcoin media coverage was about hackers stealing their credit card details and selling them on black markets,” Platzer said in a 2018 interview, noting how the The establishment had changed perceptions and media coverage around the top cryptocurrency.
In the crypto community, people responded to the closure of Room 77 with fond memories of the past.
“End of an era: room 77 in Berlin closes its doors for good!” tweeted Jon Matonis, Chief Economist of Cypherpunk Holdings. “Blame Covid or blame him on gentrification. Either way, this Kreuzberg monument served as a Bitcoin waterhole for over 10 years, with thousands making the compulsory pilgrimage. Thanks for the memories, Joerg!
Redditor @etrnetm said: “Thank you for providing the unofficial Bitcoin Embassy in Berlin to us earthlings. We’ll see each other again.
In his article on Reddit, Platzer concluded:
It is now clear that no one will stop Bitcoin anymore. A globally sound currency will soon make war impossible and create economic equality among humanity. We estimate that it will take you less than a century to rise up and join the intergalactic community.
What do you think of the unexpected closing of room 77? Share your thoughts in the comments section below.
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