Cryptocurrency News

Another Lawmaker Wants His Wages Paid In Crypto

Christophe de Beukelaer (a Belgian lawmaker) is in the news after disclosing that he wants his wages in Bitcoin. If his wish becomes a reality, he would be the first Europe-based lawmaker that will do so among any European nation.

The New World Order In Technology

De Beukelaer first announced on his blog last Friday, citing his belief in the revolution that blockchain technology will bring to the finance world. He further stated that opinions and progress about blockchain technology could be likened to when the internet was first launched.

Hence, he believes strongly that blockchain technology would impact farther than only the financial world. Part of his blog post reads: “blockchain technology is about to revolutionize the world in a similar way that the internet did many years ago. We must prepare as no sector will be spared from this blockchain disruption.”

Politicians Have A Crucial Role To Play

The lawmaker also claimed that organizations outside Europe are also making efforts to improve their understanding of this technology to maximize its benefits. He also stated that part of the duty of every lawmaker globally is to enlighten their constituents about this new wave of technology. “the adoption of this technology continues to grow at an exponential pace, and it has now become imperative for everyone to be well acquainted with this technology.

The lawmaker further stated that one of the reasons for his decision to accept his wages in cryptocurrency is to enhance the interest of other politicians and the masses in this new technology. He revealed that the digital asset class would stand the test of time as the various challenges it is customary to face the challenges it is currently experiencing.

He also said, “even though I am the first Europe-based mp to make this move, I am not the first globally. One of the goals that informed this decision is to make Brussels a BTC hub like the mayor of New York did when he started receiving his salary in BTC. I am convinced that Belgium cities can still make a huge impact in crypto adoption across Europe.”

Enhancing Wider BTC Adoption

Eric Adams, Francis Suarez, and Jane Castor (all mayors in New York, Miami, and Tampa Bay, respectively) were among the first politicians to publicly announce their decision to receive their salaries in BTC. They hoped to fuel a wider adoption of blockchain technology in their respective areas. Also, Francis Ngannou (UFC heavyweight king) is the first UFC athlete to take a similar decision to the politicians mentioned above.

Even though the BTC price remains on a downtrend, it remains popular even among the elites. BTC price rose slightly over the weekend after trading for less than $34K this past week. Institutions’ investment of $15m in various BTC investment products is considered a reason for the slight BTC price surge. 

As of this writing, BTC currently trades at $37K. However, it is still about 44% off its peak price set two months ago. Many analysts opine that BTC might become bullish once the US SEC approves a pure BTC ETF product.

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