The British cryptocurrency worker Argo Blockchain announced on Wednesday that CEO Peter Wall is now the first listed company’s CEO to be paid entirely in bitcoin (BTC).
In a live update in February, the company stated, listed on the London Stock Exchange under the ARB index, that Wall began receiving pay slips in cryptocurrency from Monday, and that “other members of the Argo team may choose to pay in bitcoin. With part or all of the paycheck. ”
In an interview with Cointelegraph, Wall said that the decision was ready for Argo, which selected 129 BTC last month and currently has 599 BTC in balance.
I actually woke up in the middle of the night and asked myself: ‘Why do I get paid for a Fiat? Sa Wall. Why not start paying with Bitcoin?
Wall cited NFL player Russell Okong as an additional source of inspiration. Late last year, some posts reported that Okung took part of his salary in bitcoin. In fact, he used the service to recalculate his wages.
In exchange, Argo actually pays Wall in Bitcoin directly from the company’s cash register. Wall mentioned the employee’s “strong” interest and expects “strong acceptance” of the proposal. Employees’ salaries will continue to be denominated in fiat currency, and the transfer rate will be calculated daily using the Satstreet exchange rate.
Not just the employees who are interested. Wall joked that some shareholders were interested in paying dividends in BTC – an achievement that could prove to be a very serious legal obstacle to overcome – and said that many other CEOs wanted to appear.
Wall said that Bitcoin is the ideal way to get at least a fraction of your paycheck, given its usefulness as a store with value and demonstrable scarcity.
“There is a evolving payment structure that determines how people receive payments, and we are excited to be at the forefront of people moving in this direction,” he said.
Other companies – even giants like Google – are expected to introduce payroll options for cryptocurrency employees within “three to five years”.
“In the long run, there is no doubt that we will use cryptocurrencies in our daily lives for all the transactions we carry out every day.”