As many of you already know, our studio has made the decision to start accepting various crypto currencies at our facility. During the past year, we have noticed a significant increase in operating costs due to the Covid-19 pandemic. And to compound the problem, we expect our government’s current monetary policy to continue driving costs higher in the coming years. As long as current government policy remains in place, we decided it is no longer in our best interest to save and transact with depreciating US Dollars.
We truly believe the seriousness of the situation should not be underestimated as our operating costs have already begun spiraling out of control. Simply put, we fear there is a significant risk in holding too many US Dollars. Crypto volatility is a real concern, however we feel that this will subside in the coming years as more and more business begin to start taking our approach. At the end of the day, we believe the long term potential of crypto makes up for short term volatility. Highly reputable companies like PayPal and Telsa have already come on board, and we feel it is only a matter of time before crypto becomes a more standard method of payment.
Of course, we will continue accepting US Dollars as normal and let our clients know far in advance of any price increases. Unfortunately, we do feel price increases may become necessary if operating costs continue to soar. To help ease this potential transition, we will be implementing a wide range of crypto related studio specials that will retain our old pricing model and offer even lower rates for various seasonal specials we plan on rolling out. As always, please do not hesitate to reach out if any of you have questions and concerns!
Alex Reese
-Owner & Studio Manager
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