What was once considered a futuristic fantasy currency is now so serious that CEOs, billionaires, celebrities, and Joe Schmoes alike are heavily investing in cryptocurrency. Just look at Dogecoin’s recent popularity and millionaire making potential. Dogecoin was created as a joke and even up until last week, the majority of people didn’t give this currency financial merit. Then Dogecoin skyrocketed and spiked 400% last night alone and is poised to only get closer “to the moon” as the cryptocurrency community would say. Cryptocurrency is so popular that Elon Musk talked about converting “large transactions” of his publicly traded company, Tesla Motors’ balance sheet into bitcoin. And Tesla is not alone as many companies all over the world, from Fortune 500 companies to mom and pop delis, are accepting payment in cryptocurrency and balancing their books with cryptocurrency.
In response to this overwhelming support for cryptocurrency as of late, The Michigan Law Firm, PC is now accepting payment for services rendered in cryptocurrency. The Firm is not converting it’s balance sheet to cryptocurrency at this time. Most forms of cryptocurrency will be accepted but the Firm anticipates that most cryptocurrency payments will be made with Bitcoin, Dogecoin, or Ethereum.
The Business Manager of The Michigan Law Firm, PC, Josh Freedman said, “Cryptocurrency like Bitcoin, Ethereum, and Dogecoin are gaining in popularity. The Michigan Law Firm, PC wants to make its hourly-billing practice areas, like family law and business law available to those who prefer to pay in crypto. As cryptocurrency and decentralized finance continue to gain momentum, and as it becomes easier to convert cryptocurrency into fiat currency, our firm seeks to provide new and existing clients with more options to pay for legal services.” Mr. Freedman and Racine Miller, the Managing Partner of the Firm, are very excited to start conducting business in cryptocurrency. “We brand ourselves as a modern law firm, so this is the next logical step.”
The legal industry is frequently stereotyped as being slow to adapt to emerging technology, but the Firm seeks to use technology when it improves the services offered in a safe, secure, and ethical manner. While The Michigan Law Firm, PC has been cloud-based and therefore paper file free since opening its doors, many law firms still operate with filing cabinets, handwritten notes, and paper invoices. Not only is it more convenient, secure, and more efficient to use technological solutions to run any business, including Law Firms, but it’s also increasingly in demand by prospective clients. So, The Michigan Law Firm, PC’s stance on accepting cryptocurrency should come as no surprise to those who understand the Firm’s zeal for improving efficiencies and client interactions with modern approaches.
The Michigan Law Firm, PC is also currently testing the implementation of additional blockchain technology to further improve Firm operations.