Belgian MP Becomes First European Politician to Convert Salary Into BTC

The development of accepting wage funds in cryptocurrencies appears to be increasing amongst lawmakers in several elements of the world. Christophe De Beukelaer, from the Belgian capital of Brussels, has turn into the primary politician from Europe to have transformed his wage into Bitcoin tokens. The parliamentarian attracts a month-to-month of EUR 5,500 (roughly Rs. 4.5 lakh), which quantities to BTC 0.17. On the time of writing, the cryptocurrency is buying and selling for $36,416 (roughly Rs. 27 lakh) on worldwide trade CoinMarketCap.

Beukelaer has posted a thread on his Twitter deal with, explaining that that is his manner of exhibiting his confidence within the crypto sector.

“US and Asian giants are investing closely in crypto. And the EU? Are we nonetheless going to get up in 10 years and discover that we missed the practice? Centralised commerce finance isn’t going away. These two worlds should cooperate,” one in every of his tweets stated.

The chief from Belgium’s Humanist Democratic Centre selected crypto buying and selling platform Bit4You to trade his wage for Bitcoins, a report by CoinTelegraph stated.

Nevertheless, this isn’t the primary time {that a} lawmaker has determined to get his wage within the type of crypto belongings.

In one other one in every of his tweets, Beukelaer expressed gratitude in direction of Eric Adams, the mayor of US’ New York Metropolis for uplifting him to take this pro-crypto step.

Adams has chosen to take his salary as Bitcoins with the intent of bringing extra pro-crypto measures within the NYC.

Beforehand, Francis Suarez, the mayor of Miami had made it to the headlines for preferring Bitcoin funds. Earlier final 12 months, Suarez had stated that Miami was planning to pay authorities staff their salaries in Bitcoin whereas additionally permitting residents to pay metropolis taxes utilizing the cryptocurrency.

Whereas the development of getting paid in crypto belongings remains to be selecting up tempo amongst politicians, it has already turn into well-liked amongst sports activities stars.

This month, NBA gamers Klay Thompson and Andre Iguodala decided to take some a part of their subsequent salaries in Bitcoin tokens

Billionaire investor Mark Cuban’s workforce Dallas Mavericks has been accepting funds utilizing digital belongings through BitPay since 2019.

In Might 2019, Russel Okung from the Nationwide Soccer League (NFL) had turn into one of many first sportspersons to have demanded cost in Bitcoin. His demand was met with a 12 months later in 2020.

In 2021, American footballers Aaron Rodgers together with Odell Beckham Jr. additionally determined to take their compensations within the type of Bitcoin tokens.

Cryptocurrency is an unregulated digital foreign money, not a authorized tender and topic to market dangers. The data supplied within the article isn’t meant to be and doesn’t represent monetary recommendation, buying and selling recommendation or every other recommendation or suggestion of any type supplied or endorsed by NDTV. NDTV shall not be accountable for any loss arising from any funding based mostly on any perceived suggestion, forecast or every other info contained within the article.