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UK Content Agency Will Accept Bitcoin as Payment

A UK-based content agency, PinPoint Media, has made an announcement that it will start accepting crypto as payments for its animation, video, photography, and content strategy services.

It is clearly not the first agency to do so – the trend goes back to at least 2013 – but it represents the renewed interest in the crypto sphere that institutions now have following the growth in the value of cryptocurrencies.

PinPoint Media will use the Bitpay platform, which will allow it to use the two biggest cryptocurrencies: Bitcoin and Ethereum.

The Future is Crypto

The person who would want to pay with one of the two cryptocurrencies will be quoted in crypto, but this will then be caveated with a base BGP price – this basically means that the actual crypto cost may vary as a result of the market fluctuations.

After the transaction takes place, the agency absorbs the risk and reward of the value of crypto. Oliver Bruce, PinPoint Media‘s founder and managing director declared: “It’s similar to international travel or overseas payments today – they ebb and flow depending on the date of the transaction.”

Bruce wants to keep the money in its crypto form and not exchanging it for fiat currency immediately: “I am forecasting a long-term upside to holding crypto, so we would not liquidate for at least 12-18 months. I look at this as an investment portfolio diversification rather than a short-term cash-flow solution.”

Bruce has said that his current clients aren’t planning on paying him in crypto for now, but he thinks this is a method to future-proof the agency against inflation and to also gain new customers that may wish to pay via this method: “I don’t envisage clients converting fiat money into crypto exclusively for our services. This transition will happen over time.”

Some of the freelance staff that works for the company in Hong Kong and the US declared that they were open to accepting Bitcoin as payment and “this opens up the possibility of not only being able to accept Bitcoin but transacting with our suppliers through crypto too,” commented Bruce.

He also declared: “In the short-term, we may only have a few Bitcoin payments for our services, but I am convinced that over time people will not only work with us due to the acceptance of Bitcoin, but it will ensure a diversified investment portfolio for the business and a hedge against high street banks and ultimately inflation.”

He finished by saying: “If there’s one thing I’ve learned during the pandemic, it’s to ensure the business is future-proofed, and one’s eggs are spread across multiple baskets. This is fundamentally what we’re doing.”

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