One of the world’s largest accounting firms, PricewaterhouseCoopers (PwC), has accepted its first ever bitcoin payment.
PwC accepted bitcoin as payment for its advisory services, as it is currently working with multiple startups that deal in bitcoin and the cryptocurrency industry. PwC has also started to advise clients about various cryptocurrency related options, such as funds and investments, exchanges, and ICOs.
“This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,” said PwC Asia-Pacific chairman Raymund Chao. “It is also an indication that bitcoin and other established cryptocurrencies have now developed into more broadly accepted forms of settlement.”
PwC is not the first accounting firm to accept bitcoin as payment for its services. Ernst & Young (EY) in Switzerland accepted bitcoin for its auditing and advisory services at the beginning of 2017. EY also set up a Bitcoin ATM among its offices, providing its employees with a digital bitcoin wallet within its in-house EY wallet app. Accepting bitcoin as payment was essential for EY’s strategy of “digitizing itself.”
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