Michael needs to start a Bitcoin business. This site is a great match for it. Right now he makes a bit by advertising other people's products. He would make a ton more having his own product.
Right now there are basically two categories of Bitcoin businesses proving very profitable: exchange & finance, or gambling. See a list here.
I recommend a couple things Michael could do. One would be his own version of SatoshiDice.com the most popular/profitable Bitcoin gambling site. It's estimated SatoshiDice profits $500K per year, and it's a dead simple straightforward site. One of the biggest selling points of many Bitcoin gambling sites is they are provably fair because they use the transparent info from the Bitcoin block chain. So Michael could make the DailyDice. I bet he would do well. Maybe not as much as SatoshiDice, since they were first, but he has an entirely new potential user base.
Do you want to know the cool thing about that too? It's legal. SatoshiDice is very careful to keep everything in bitcoins. Players send in bitcoins and win or lose bitcoins. There is never anything to do with "real money" on the site. Bitcoins are not yet technically money. They are not anything, other than digital information. The fact that some people value them is coincidental from a legal standpoint.
The next thing he could do is sell gold/silver bullion for bitcoins. There is apparently a good market for that too. The site Coinabul on that list reportedly does $1.5 million in sales per month. I don't know what the profit on that is, though. This would serve dual purpose of raising Bitcoin awareness for liberty minded people as well as making money for the DailyPaul :)
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