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The Boston Globe

Business

Bitcoin believers hoping their faith will pay off

Jay Best walked into the Thelonious Monkfish restaurant in Cambridge’s Central Square earlier this month with no intention of paying for his sushi rolls with cash or a credit card. Best planned to settle the tab with bitcoin, a virtual currency used around the world to buy everything from baklava to marijuana.

But when he pulled out his smartphone to calculate the bill, Best was dismayed to discover the value of a bitcoin in US dollars had plummeted from a record high of $266 the day before, to below $80. Suddenly, old-fashioned cash seemed more appealing.

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