PricewaterhouseCoopers (PwC), one of the world’s largest accounting firms, has accepted its first ever bitcoin payment for its advisory services.
The digital currency was used in a transaction for advisory services of PwC’s branch in Hong Kong, the Wall Street Journal reported on Thursday. The accounting and assurance giant’s unit said it enabled the Bitcoin’s debut because of ongoing cooperation with emerging firms operating in the field, including the underlying blockchain technology.
The firm said that apart from bitcoin, it would also accept other liquid, and established cryptocurrencies, especially from clients it advises in the broader crypto space. The step is an initiative of PwC in Hong Kong and there are no plans as of yet to roll it out across its branches globally.
“This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,” PwC Asia-Pacific chairman Raymund Chao was quoted by the Wall Street Journal.
PwC isn’t the first among the Big Four accountancy firms to adopt Bitcoin payments as Ernst & Young (EY) and Deloitte already enabled their clients earlier this year to pay for products and services using the cryptocurrency.
Bitcoin has added 56% in the past month alone and an all-time high of $11,441 was reached this week.