Belgian MP becomes the first European politician to accept salary in Bitcoin

[wtsimis]

Brussels member of parliament Christophe De Beukelaer became the first European politician to accept his salary into Bitcoin. The MP converted to Bitcoin using the Bit4You (crypto exchange platform). The Belgian MP will convert his monthly salary of EUR 5,500 to Bitcoin. Beukelaer hopes his adaptation will inspire other politicians to show a similar interest in the crypto industry.
He said:
“New York City Mayor Eric Adams has spent three months collecting his Bitcoin salary to make New York the Bitcoin hub. I think it is not too late for Brussels and Belgium to play a leading role in the cryptocurrency industry."

Source: https://cointelegraph.com/news/belgian-mp-becomes-first-european-politician-to-accept-salary-in-bitcoin

[Upgrade00]

News like this are very important for the growth of bitcoin regardless of the motivation behind them. Many celebrities and politicians could get involved in bitcoin and cryptocurrencies cause it is the trend and would get them a bit of traffic, it could also be used to win over the support o the public (particularly the younger generation).

It is however useful that influential people adopt bitcoin and show their faith in it as it would rub off unto majority of the public that follow them leading to more acceptance for bitcoin and more faith in it as an actual asset and store of value.

[swogerino]

Brussels member of parliament Christophe De Beukelaer became the first European politician to accept his salary into Bitcoin. The MP converted to Bitcoin using the Bit4You (crypto exchange platform). The Belgian MP will convert his monthly salary of EUR 5,500 to Bitcoin. Beukelaer hopes his adaptation will inspire other politicians to show a similar interest in the crypto industry.
He said:
“New York City Mayor Eric Adams has spent three months collecting his Bitcoin salary to make New York the Bitcoin hub. I think it is not too late for Brussels and Belgium to play a leading role in the cryptocurrency industry."

Source: https://cointelegraph.com/news/belgian-mp-becomes-first-european-politician-to-accept-salary-in-bitcoin

Nicely done Christophe De Beukelaer and it is great that the first European politician to accept Bitcoin and convert his salary is from the Capital of the European Union.That is a great move and as he says he is doing this to inspire others,I am expecting now Dutch and German politicians as the next ones to accept Bitcoin followed by other more conservative countries and their politicians.I see no one except the communist country of China is talking against Bitcoin anymore and this is great for Bitcoin and cryptocurrencies in general.Good things hopefully should follow.

[LeGaulois]

He won't receive his salary in bitcoins. He will receive in EUR and then convert it to BTC using an exchange platform.

It's maybe a little thing, but there is a huge difference between saying the MP accepts salary in BTC and he receives EUR and then buys BTC.
If the government was sending him bitcoins to pay his salary from its own wallet, I would agree, but this is not the case.
It's like any other citizen that buys BTC when he receives his monthly cheque and logs in to a website to click a "Buy" button.

There are 3-4 sentences about it, everything else in the article spends time talking about something else. The article looks more like something to market a service (bit4you) than real news. Great marketing...

The Brussels MP’s monthly salary of EUR 5,500 ($6,140.75) will be converted to Bitcoin using the Bit4You crypto trading platform, reported Bruzz. Beukelaer, who represents Humanist Democratic Centre (CDH) party, hopes his move would inspire other politicians in the region to show a similar interest in the nascent tech

[Iranus]

Not new that celebrities heads-up with Bitcoin's positivity. Now it's become a trend, after El Salvador's acceptance, Brazil's acceptance they got support over Bitcoin.
and now both institutions and government can realize that they had a mistake not accepting Bitcoin before the Bull Run.
I've heard a news that Domino's franchise a well-known restaurant brand accepted Bitcoin and offered its employe to get paid their salary via Bitcoin.

Very admirable Belgian MP accepted Bitcoin, now his acceptance and honest courage will take his people one step further.

[bitzizzix]

He won't receive his salary in bitcoins. He will receive in EUR and then convert it to BTC using an exchange platform.

It's maybe a little thing, but there is a huge difference between saying the MP accepts salary in BTC and he receives EUR and then buys BTC.
If the government was sending him bitcoins to pay his salary from its own wallet, I would agree, but this is not the case.
It's like any other citizen that buys BTC when he receives his monthly cheque and logs in to a website to click a "Buy" button.

There are 3-4 sentences about it, everything else in the article spends time talking about something else. The article looks more like something to market a service (bit4you) than real news. Great marketing...

The Brussels MP’s monthly salary of EUR 5,500 ($6,140.75) will be converted to Bitcoin using the Bit4You crypto trading platform, reported Bruzz. Beukelaer, who represents Humanist Democratic Centre (CDH) party, hopes his move would inspire other politicians in the region to show a similar interest in the nascent tech

It seems so and he still receives his EUR salary then exchanges it for a bitcoin trading platform, but for whatever reason accepting it in person or exchanging it himself is good news for bitcoin and will set an example that bitcoin is a great asset.
but it would be better if the monthly salary goes straight from the boss's wallet and make two options for MP, employee or worker, and that way workers who receive fiat and bitcoin salary will be compared who in the end all want bitcoin salary after seeing the benefits.

[teosanru]

Even though this is a great initiative by him and a good display of being an crypto enthusiast but the title was pretty misleading to be honest, i thought it was the authority which was paying him in bitcoin and he chose to accept that form of payment. Getting your salary and converting it to bitcoin doesn't count as accepting salary in bitcoin to be very honest. But anyways it's a good initiative and maybe initiatives like this will encourage people around thr globe to pay in btc.

[Fesatmas]

More and more findings that we have with politicians and other influential people have opened their thinking about crypto to be more positive. this signifies quite good news for adoption that as much as possible can motivate others to be interested and try to get to know Bitcoin in their daily lives. Since most of these politicians are young and up-to-date around the world of technology, what they decide has a pretty good future as a form of support for Bitcoin.

[batang_bitcoin]

Just as what I've thought of and comparing it with the New York's mayor. I thought that this Belgian MP would be accepting directly his salary in bitcoin.
But just like the mayor, they have to convert and buy bitcoin using this salary. More and more of these politicians are seeing the true potential of bitcoin. Wishing that more of them would be investing in bitcoin but I also smell that bad politicians will take advantage of it too.

[BIT-BENDER]

Brussels member of parliament Christophe De Beukelaer became the first European politician to accept his salary into Bitcoin. The MP converted to Bitcoin using the Bit4You (crypto exchange platform). The Belgian MP will convert his monthly salary of EUR 5,500 to Bitcoin. Beukelaer hopes his adaptation will inspire other politicians to show a similar interest in the crypto industry.
He said:
“New York City Mayor Eric Adams has spent three months collecting his Bitcoin salary to make New York the Bitcoin hub. I think it is not too late for Brussels and Belgium to play a leading role in the cryptocurrency industry."

Source: https://cointelegraph.com/news/belgian-mp-becomes-first-european-politician-to-accept-salary-in-bitcoin

Highly commendable when politicians genuinely adopts Bitcoin without it been a political stunt, it's a big challenge to the rest of his colleagues, I think one final hindrance to crypto-currency adoption is the government and when this is over comed we would see more adoption of crypto-currency.

[TheNineClub]

Aha, but he converted it himself, so how's that different from investing? Correct me if I'm wrong, but he is not actually being paid in BTC, he's just taking regular money and converting it to BTC? If that's the case, I do applaud him, but until there are actuall options to get paid by your employer in BTC, then we haven't really moved that much forward. But on the positive side, it could nudge other high-ranking officials to do the same, and with that tilt the positive. sentiment towards crypto. Good move on his part.

[Vaskiy]

More politicians have been getting involved with cryptocurrency adoption. Getting paid in Bitcoin by politicians might create some positive movement among people who still fear using cryptocurrencies thinking it as illegal or something that is made for the darkweb.

In recent days Eric Adams and Christophe De Beukelaer from different nations have made change. This is something done revealing it to the world. This means it is something an investment thinking the future. By the time there will be more politicians who'll be using bitcoin long back itself to launder money and for corruption.

[DapanasFruit]

I have no issue with the technicalities of this whole thing. Even if Christophe De Beukelaer is not actually directly accepting his salary in Bitcoin, the point is he is investing with Bitcoin and that means we can assume that he is really sold with Bitcoin and doing it these days when BTC is on the dip can mean that when it is up he can be one of the many who would be smiling all day long. Of course, we can expect that when there will be another dip some people can be asking him if he did the right thing - a cycle when you are involved with a famous personality so if you are not famous don't worry on this. Anyway, am hoping that soon we can see an avalanche of people known to many who will also go for Bitcoin either directly accepting their salary on BTC or maybe just accepting it on fiat money and then convert them to Bitcoin.

[franky1]

i am not excited about which politician/celebrity gets paid or converts to bitcoin.
what i find more interesting is, what the politician/celebrity wants to do in the crypto industry to help innovate and expand its reach in business/personal use of their nation

EG new york mayor wants to repeal the silly NYBitlicence that has hindered crypto start-ups. thus freeing businesses to use crypto more in NY.

EU seems positive about allowing crypto (within its regulated conditions ofcourse) but i wonder what Christophe De Beukelaer will do in the EU parliament to stream line and help towards regulations that help innovate and grow crypto usage, rather then stifle, limit usage in the EU

[Lucius]

If we have been reading and hearing for weeks about how the mayor of NY will receive three of his salaries in Bitcoin (in the same way as this Belgian member of parliament), then I guess the EU must have its 5 minutes of glory in a politician who wants to do the same.

So while some will say that the two cases do not have the same weight in terms of impact on Bitcoin given the position of the mayor of NY - I would still say that Christophe De Beukelaer🇧🇪, unlike Eric Adams, understands the difference between Bitcoin and shitcoin. Of course, I am thinking of the fact that Adams is investing his salary in one altcoin in addition to BTC.

EU seems positive about allowing crypto (within its regulated conditions ofcourse) but i wonder what Christophe De Beukelaer will do in the EU parliament to stream line and help towards regulations that help innovate and grow crypto usage, rather then stifle, limit usage in the EU

He will not do anything (for now) because he is not a member of the EU Parliament but of the Belgian National Parliament. Even if he is a member of the EU parliament, he could hardly do anything in that chicken coop full of incompetent politicians, of which at least 90% have no idea what Bitcoin is.

As for the use and tax on Bitcoin, there are at least some EU members that are quite advanced in this regard - for example, Portugal, Germany, Slovenia, Croatia and maybe some other countries - to seek a common solution at the moment is completely impossible - for years EU members have not been able to agree to accept the AML5 directive because some national parliaments have not adopted it. 

[kryptqnick]

It's good for Bitcoin's publicity and reputation, but I wonder what he'll do then. Can he afford to hodl all of his salary? If yes, I can't help thinking where he gets his money for actual living. If he's planning to use this money, are there enough options in Belgium to do so? Or will be basically be forced to convert it back to fiat one way or another to pay for groceries, utility bills and things like that?

He won't receive his salary in bitcoins. He will receive in EUR and then convert it to BTC using an exchange platform.

The same holds for the mayor of New York, by the way. And it's still an important gesture, I think. Of course it's not nearly as significant as receiving your salary in Bitcoin, but still. It's especially nice in these times of the low price to see that some people show their support to it.

[skarais]

He won't receive his salary in bitcoins. He will receive in EUR and then convert it to BTC using an exchange platform.

It's maybe a little thing, but there is a huge difference between saying the MP accepts salary in BTC and he receives EUR and then buys BTC.
If the government was sending him bitcoins to pay his salary from its own wallet, I would agree, but this is not the case.
It's like any other citizen that buys BTC when he receives his monthly cheque and logs in to a website to click a "Buy" button.

If that's the justification, then I think it makes no difference to many other countries. I can also buy bitcoins on any trading platform I like after the government fills my account balance with monthly salary. It doesn't mean the government has paid my salary in bitcoin, but I use my salary to buy bitcoin. I just think it's a good endorsement for bitcoin from a public figure that might stimulate others to buy. But if people think the government is starting to pay salaries with bitcoin, then that is a mistake.

It is still difficult for the government to adopt bitcoin as a currency let alone pay salaries with bitcoin. But that can be expected when many countries start adopting bitcoin as a means of payment, but not now.

[stompix]

I am probably the first guy who accepted his salary in pizza, juice, detergent, gas, and cinema tickets, got my paycheck last week, filled the gas tank, done some shopping, and just now I've reserved some seats for tomorrow. Since I bought 2 years ago some monero, am I the first to get a wage in monero? 

There are 3-4 sentences about it, everything else in the article spends time talking about something else. The article looks more like something to market a service (bit4you) than real news. Great marketing...

The fact that they had to mention with whom he exchanged his coins is clear this was a publicity stunt, and btw:

Comme pour tout investissement financier, il faut faire ses choix avec énormément de précaution. Personnellement, je peux me permettre de prendre cette décision parce que je suis un privilégié et que j'ai pu mettre de l'argent de côté. Soyons clairs, je ne conseille à personne de se verser tout son salaire en bitcoin. Je conseille plutôt aux gens qui ont une petite épargne de placer de petites sommes en cryptomonnaies, 50 euros par exemple, pour commencer."

Let's be clear, I do not advise anyone to pay their entire salary in bitcoin.

It's good for Bitcoin's publicity and reputation, but I wonder what he'll do then. Can he afford to hodl all of his salary?

He said in the same interview he is rich enough to afford to lose all that and live without his salary for a year.

[_BlackStar]

It is still difficult for the government to adopt bitcoin as a currency let alone pay salaries with bitcoin. But that can be expected when many countries start adopting bitcoin as a means of payment, but not now.

Based on its function, bitcoin can be used to pay for anything, including paying the salaries of government officials. I guess right now only El Salvador might try to do it first than other countries ^{[I have no information on that]} but other countries haven't been able to do it given the legality of bitcoin itself.

But the government will not agree with bitcoin, news is something called distortion of facts for other purposes ^{[perhaps promoting exchange]} where some sentences are misinterpreted. Most countries pay their employees' salaries through banks, so it's unlikely that banks will redeem them for bitcoin if they haven't adopted it. But the news can also have a positive impact on interest which can affect market demand.

[dothebeats]

It would be nice if he receives bitcoin directly, though I understand that the complexity of such arrangement in their current setup would hinder this from being done. Either way, props to him for doing this to raise awareness and to urge people within the same line of work to look into bitcoin and see what's with the cryptocurrency, and not just judge it with a 10-ft stick. Then again, we know that the dude won't probably be doing this if he's living paycheck to paycheck just like most of us here.