Cafe closes for owner to focus on Bitcoin
December 31, 2014 to make room for another coffee shop to take its place at its Clinton Square
location, The French Press Cafe & Creperie.
"I had a fantastic time running coffee shops within the Capital Region, but my prime focus now are
digital currencies. I want to be able to use my resources and work with my new team to help educate
consumers and businesses about the most innovative technology since the Internet," said Paul
Paterakis, co-owner of CT@HB and a member of the NY Bitcoin Group. "I've said it before and I'll say it again: Credit cards and our banking system are outdated and do not belong in the tech era. "CT@HB made headlines earlier in the year when they were the first merchant in Upstate NY to start accepting Bitcoin as a form of payment, as well as the first to implement a Bitcoin ATM in New York State. This, according to Paterakis, was a blessing for the business. The new owners will keep the ATM at the location and continue accepting Bitcoin for their cafe products.
"The Internet brought the world closer together with communication, and the Bitcoin protocol does the same with finances through its revolutionary distributed public ledger system."
Paterakis plans on investing in several digital currency start-up companies, including PYC, Inc., which was the first company to add Bitcoin ATMs in New York State, Vermont, and New Hampshire. His new company, NY Bitcoin Group, is partnering with BitPay, an Atlanta based Bitcoin payment processor, to support local digital currency adoption.
"2015 will be a huge year for digital currencies. Wall Street will have their first Bitcoin ETF, regulations will be passed in New York State to legitimize digital currencies, POS integration will be added into PayPal and Square, and more infrastructure will be built on top of the already $5 billion network. "
CT@HB will continue to sell their coffee and Greek import products through Amazon.
ABOUT THE COMPANY
CT@HB is a coffee shop and bakery that specializes in Greek food and beverages. The family-run
company is based out of Ho Chi Minh City, Vietnam and has locations in both Albany, New York and Manila, Philippines. Future expansion is planned internationally. www.coffeetimehellas.com