Every time Papa Powell or that strange bird-looking fella named Mr. Gensler speaks, the market seems to tank for at least a day or two, followed by crypto Twitter becoming utterly depressing with calls of “everything is going to zero” becoming the norm.
But alas frens, everything is not going to zero. How can this be asserted? Because it was recently announced that two strip clubs in Miami will now be accepting Bitcoin as payment. Details are scarce, but these new Bitcoin Baddies will undoubtedly be in a race to acquire as many coins as possible. And there will be no shortage of dudes willing to accommodate them. So, let’s take a look at the two clubs and the highly scientific ‘stripper indicator’ which proves that Bitcoin is not going to zero and in fact will likely perform well in the near future.
The Two Clubz
Tootsie’s Cabaret and Scarlett’s Cabaret in Miami, Florida are where these Bitcoin Baddies will be shaking for their satoshis. First things first though – after perusing the gallery sections of both websites, it appears that Scarlett’s has the badder baddies, but of course these things are subjective.
One area primed for Bitcoin payments that sticks out right away is their bottle service. Both clubs offer three tiers ranging from $550 to $2,000. Another area where Bitcoin should be accepted is admission and lap dances. This would benefit the dancers because they wouldn’t have to carry around cash all night and could instead take payment on their cell phones with the lightning network.
In all seriousness, these two clubs are part of a larger entertainment company called RSI Hospitality Holdings, Inc. RSI is listed on the NASDAQ under the symbol RICK and it last traded at $85.97. Further, RSI has 26 subsidiary entertainment brands which is nothing to scoff at.
Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., said, “we have watched the rise and broader acceptance of Bitcoin in the marketplace…” adding, “we believe now is the time that makes sense for us to begin accepting Bitcoin, which will be converted into cash. Tootsie’s and Scarlett will pilot the program. We expect other subsidiaries to begin accepting Bitcoin in the future.”
This is bullish because if this is successful, you can bet that other clubs and big entertainment brands will catch wind of this and will likely follow suit.
The Stripper Indicator
Back in late May of 2022, during the peak decline of the bear market, The New York Post ran a piece about a stripper that said she could read the market better than bankers. @botticellibimbo said that strip clubs were, “sadly a leading indicator” of economic health, and added that we were already in a recession. She also said that strip clubs are, “an operative tool” for business people and don’t just provide entertainment. And oh boy was she right. The market continued to tank while “officials” were arguing about the definition of recession and were saying the poor market conditions and inflation were transient (what a crock of manure).
All that to ask a simple question – if strippers are a leading indicator, then wouldn’t a trend of strip clubs accepting Bitcoin be a major bullish sign? Maybe strippers are tired of seeing their cash not going as far as it used to. Maybe strippers understand that Bitcoin is capped at 21M coins and won’t inflate the same way that dirty fiat money does. Maybe they are really on to something here.
The Bitcoin revolution is no longer just for tech geeks, libertarians, and dudes that never sign off of Twitter. Bitcoin’s increasing adoption and integration into mainstream entertainment venues like strip clubs is a testament to its growing legitimacy as a real-world currency. As Bitcoin continues to become more accepted, it’s clear that the days of paying with cash at these kinds of establishments may be numbered. If you’re ever in Miami and visit Tootsie’s or Scarlett’s, make sure your Bitcoin wallet is fat and support your local Bitcoin Baddie. After all, you’re just doing your part to ensure we have a healthy economy.
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