Kansas City Cattle Company (KC Cattle), a business known for its premium Wagyu beef products, announced a strategic decision on Wednesday on the X platform (formerly Twitter): to adopt Bitcoin as its main reserve asset.
The decision by the veteran-owned and operated business, acclaimed for its world-famous, delicious uncured all-Wagyu hot dogs, marks a significant shift toward financial innovation as the company faces an urgent need to address erosion of purchasing power and rising costs within the industry.
KC Cattle publicly announced: “Kansas City Meats has publicly announced that it has now adopted Bitcoin as its primary reserve asset. The erosion of purchasing power and the increase in costs for our industry make this one of the easiest decisions we have ever made. Fix the currency, fix the food. "
The announcement quickly caught the attention of the Bitcoin community, with some asking about the possibility of accepting BTC as payment for purchases. To this, KC Cattle responded with a hopeful “soon,” indicating that the company has imminent plans to integrate cryptocurrencies into their trading processes.
When asked about the possibility of adopting Lightning Network for faster transactions, KC Cattle thanked the questioner and reiterated their commitment to adopting the technology "soon", indicating a forward-looking approach taken by the company. Improve customer service through the Lightning Network.
Why Bitcoin?
The decision to move to Bitcoin was not made lightly. “In our case, it was a result of several years of research into Bitcoin and the state of the beef industry. We felt that open source communications and open source payments would be necessary in order to evade the seizure of funds like PayPal did to us,” KC Cattle revealed while discussing the motivations behind their groundbreaking decision.
Kansas City Meat Company did not do so lightly in choosing to turn to Bitcoin. Discussing the motivations behind their groundbreaking decision, KC Cattle revealed, “In our case, this was the result of several years of research into Bitcoin and the dynamics of the beef industry. We felt that open communication and open payment methods would be necessary in order to avoid having funds seized like PayPal did to us.”
KC Cattle’s “aha” moment came from a dual realization: an individual understanding of the potential of proof-of-work, and a collective recognition that to challenge the market’s heavyweights, innovative approaches must be taken. This insight is particularly profound in an industry dominated by four major companies: Tyson, Cargill, National Beef, and JBS, as these four companies collectively control 85% of the U.S. beef market.
KC Cattle’s advice to businesses looking to embrace Bitcoin emphasizes the importance of education and involvement in Bitcoin-focused platforms. They advise, “We recommend becoming a good student of Bitcoin-only companies. Check out River, Unchained Com, Swan, Strike. They have been rapidly competing on innovation and customer experience for different parts of the Bitcoin Standard business.”
KC Cattle has advice for businesses looking to accept Bitcoin, emphasizing the importance of education and engagement with platforms that focus primarily on Bitcoin. KC Cattle gave this advice, “We want to be good students of what the companies that are only using Bitcoin are offering. Get to know companies like River, Unchained Com, Swan, Strike. They are all working on different parts of the Bitcoin standard. business, compete quickly on innovation and customer experience.”
In response to suggestions that XRP be considered, the KC Cattle firm differentiated their position based on their commitment to Bitcoin’s underlying technology. “We have thought about it. The proof-of-work consensus protocol is a discovery, not an invention that cannot be replicated. We also do not support the allocation of Ripple resources to Greenpeace USA for knowingly providing inaccurate reporting. We probably know something about methane,” they explained, highlighting their commitment to making informed, principled decisions in their financial practices.
KC Cattle made clear their commitment to Bitcoin’s underlying technology when faced with suggestions to consider incorporating XRP into their financial practices. The company says the proof-of-work consensus protocol is more of a discovery than a replicable invention. At the same time, the company also does not support the allocation of XRP resources to Greenpeace USA because the organization knowingly provides inaccurate reporting. The company emphasizes that in their financial management process, they always insist on making informed and principled decisions. In addition, they may have some knowledge and concern about methane emissions.
At press time, BTC was trading at around $66,509.
