August 26, 20184min788

Architect Launches Bitcoin Hostel Near Rio De Janeiro in Brazil

Alessandro Santos, a Brazilian architect, engineer, and self-described bitcoin aficionado, has recently inaugurated a cryptocurrency-themed hostel in Paraty, a city located about 260 kilometers (161.5 miles) away from São Paulo, Brazil.

The hostel, appropriately named Hostel Bitcoin, launched on August 16, and was immediately booked for its inauguration day. According to local news outlet Portal do Bitcoin, Santos has been living in Paraty for three years, and decided to invest in the crypto-themed hostel a while ago.

Per the outlet, all of the hostel’s services, including breakfast and tours, can be paid for in cryptocurrency. Santos decided to invest in the hostel after realizing most tourists who visited the area were interested in cryptocurrencies. He was quoted as saying:

“I am well on the route of the waterfalls, where several jeeps pass daily with these tourists and the attention they give to the theme is notorious. Some even ask the jeeps to stop to take photos of the hostel.”

Initially, Santos revealed, the hostel will only accept BTC payments, but will eventually accept Ripple’s XRP, Monero, and “what we can get through a simple account at an exchange like Bittrex.” The engineer further revealed he plans on selling bitcoin at the hostel, although he “can’t speak [about it] because of a confidentiality agreement.”

The hostel’s goal, Santos added, is to help grow the cryptocurrency ecosystem. His decision to invest was partly motivated by his cryptocurrency ventures, he revealed, as he likes to “trade both bitcoin and other cryptocurrencies.”

Ultimately, Santos would like to see the hostel “lead a movement” that helps other businesses in the area accept cryptocurrency payments. If the hostel succeeds, he revealed he believes other restaurants and hostels will accept cryptocurrency payments.

Bitcoin adoption in Brazil has notably been growing. Two of the country’s football teams recently inked partnerships with crypto startup Inoovi, and leading exchange Huobi is reportedly moving into the country.

As CCN covered accepting bitcoin payments and donations has helped various organizations. Last year, online travel agency CheapAir saw its bitcoin sales rise 74% in six months, as it processed around $15 million in bitcoin. Fidelity Charitable, a donor fund connected to Fidelity Investments, received $9 million in BTC in only six months after it started accepting the cryptocurrency.

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