First Restaurant to Accept Bitcoin in Moscow

On Tuesday, several Russian news outlets reported that Valenok has become the first restaurant in Moscow to accept bitcoin.

Named after the traditional Russian type of footwear, Valenok is symbolized by the world’s largest handmade felt boot, its website details. “A symbol of the restaurant is a giant six-meter felt boot (Valenok).” The Russian cuisine restaurant is located on the Tsvetnoy Boulevard in the center of Moscow. The spacious establishment occupies 2 floors, seats 340 people, and an average main course there costs about $10.

Valenok is part of the Novikov Group which owns over 50 eatery projects, including restaurants and several franchises, located in Russia, London, and Dubai.

Mikhail Petuhov, managing partner at Novikov Group, told BFM.ru that his customers are young, modern and sophisticated. He described the time he was asked by a friend why his restaurant did not accept bitcoin so he decided to try it out. Two transactions were made, which was exciting, the publication reported him saying. “In the restaurant business, I had not heard of such examples. So, there is no one to ask, unfortunately,” he added.

Felt Boot Restaurant Valenok Becomes the First in Moscow to Accept BitcoinPetuhov explained how bitcoin payments work at his restaurant: “The seller generates a QR-code that contains the amount to be paid and the seller’s wallet address. The buyer scans this code using his Bitcoin smartphone app and makes the transaction.”