What’s BitCoin’s place in LatAm?

What’s BitCoin’s place in LatAm?

Would you invest in BitCoin? Most people would probably be hesitant to do so, but Juan Pablo Cappello – owner of a boutique law firm that focuses on Latin America and who has been very involved in Latin America’s budding tech scene – answers that question with a resounding “yes.” BNamericas spoke to Cappello to find out why and how he expects virtual currency to develop in Latin America. BNamericas: You say that your boutique law firm, Private Advising Group, accepts BitCoin (BTC). How do you define the price for service, given the BTC’s price fluctuations? Cappello: I had the good fortune of buying some BitCoins back in early 2013. I was the general counsel of patagon.com [in the late 1990s], and the mobile payments space has been of interest for years. BTC’s price has been fairly stable as of late – around US$600. We simply ask clients who pay with BTC to pay us the dollar equivalent of our bill. I actually have my hourly rate tied to half a BTC. This is about a 50% discount at today’s value. But I want to support BTC payments, so I’m happy to discount the value of my time when a client pays with BTC. BNamericas: What percentage of your revenue comes from BitCoin? Cappello: About 5%. I never expected to be paid so frequently in BTC. It’s an awesome surprise. BNamericas: You’ve said that BTC is a viable alternative, particularly in controlled economies such as Argentina and Venezuela. Do you see BTC, or any other virtual currency for that matter, as going so mainstream as to make a big...