Ever since Bitcoin was launched in 2009, its adoption of Bitcoin has been increasing by leaps and bounds. Price fluctuations in Bitcoin have not made this easy.
BTC experienced some drops in the value of up to 80%, but it has stood the test of time and proven whoever was brushing it aside as just a Ponzi scheme wrong.
Now, a Belgian member of parliament Christophe De Beukelaer has become the first European politician that has decided to convert his first salary to Bitcoin. This comes at the time when BTC prices are down and the market has been showing a downward trend for some weeks.
According to De Beukelaer, he made this decision to raise public awareness about Bitcoin and alternative financial models and to help people understand how new technology is rapidly changing the financial world.
De Beukelaer is not the first politician in the world to convert his salary to BTC. Before him, New York City Mayor Eric Adams has spent three months collecting his Bitcoin with a mission to make his city a Bitcoin hub.
Apart from him, Miami Mayor Francis X. Suarez is also a popular figure that is known for promoting the adoption of Bitcoin. It is to be noted that the world’s biggest conference on Bitcoin is held every year in Miami in the month of April. This year the conference is scheduled from 6-9 April 2022.
Commenting on New York Mayor drawing salary in BTC, he said that time has come to adopt cryptocurrency as an alternative mode of finance. It is not too late for us to adopt it and Brussels and Belgium can play a leading role in crypto adoption in the European Union.
De Beukelaer’s first exposure to Bitcoin was in 2017 and since then he thinks that Bitcoin and blockchain can change the world on how people make payment and it can become an option to traditional finance and banking.
If we don’t adopt cryptocurrency at this stage, Europe is at the biggest risk of losing in the race of embracing new technology, De Beukelaer said.
Many crypto experts believe that Bitcoin in the next few years will touch $1 million per BTC. Today, the price of one BTC is $37,688, which nearly touched $70,000 a few months back.
He also said that due to a lack of awareness surrounding Bitcoin and cryptocurrency, people are hesitant to enter this space. The problem will become bigger if Asia or the US adopts it and they will decide the future of cryptocurrency and Europe will be left behind.
The Brussels MP representing Humanist Democratic Center (CDH) party has been drawing a monthly salary of EUR 5,500 ($6,140) and has converted all his salary through a crypto trading platform.
He believes that as this is just a start in the future more MPs will adopt cryptocurrency.
Not just politicians but some of the biggest names in sports have also come forward to accept Bitcoin as salaries. Over seven NFL stars have opted to get paid in Bitcoin, along with NBA stars Klay Thompson and Andre Iguodala, who are also receiving salaries in Bitcoin.
With who’s who adopt salaries in Bitcoin or cryptocurrency, in the coming days, more and more people will opt for salaries in cryptocurrency.
Right now, many people working in the crypto and blockchain space, do draw their salaries in cryptocurrency.
As the technology is just starting to move towards adoption, down the line, more and more companies will opt to pay their employees in crypto.