Bitcoin reaches the Big Four: PwC accepts first cryptocurrency payment

04.12.2017 | 14:03 Home / News / Fintech /
#PWC #bitcoin #Winklevoss
Accounting firm PricewaterhouseCoopers (PwC) announced that it accepted a payment in bitcoin for advisory services, its first in a virtual currency.

The Wall Street Journal reports that the announcement came on Thursday, at a hot time for cryptocurrencies, as bitcoin blasted through USD 11,000 for the first time. The rally has prompted questions over whether the currency is a true store of value that can be widely used in transactions, or merely a day trader’s plaything.

PwC in Hong Kong stated they accepted the payment because they are increasingly working with startups involved in cryptocurrencies and blockchain. The firm also noted its advisory work in areas such as initial coin offerings (ICO), crypto exchanges and crypto funds.

“This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,” said Raymund Chao, Chairman of PwC Asia-Pacific.

The Wall Street Journal remarked that PwC joins a small but growing list of established companies that accept digital currencies for payments, including Microsoft Corp. But it appears to be the first of the Big Four accounting firms to embrace virtual currencies. Representatives from other three weren’t immediately available for comment.

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It’s worth noting that recently Telegraph reported about the world’s first bitcoin billionaires, twin brothers Tyler and Cameron Winklevoss.

The twin brothers sued Marc Zuckerberg, claiming he stole the idea of Facebook from them, and invested in bitcoin some of the USD 11 million they got from the network. After the bitcoin price surged, the brothers’ investment increased almost hundredfold, making them bitcoin billionaires.
 
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