Despite the bearish behavior Bitcoin is going through lately, we’re thrilled to hear that it’s being used in places we’d never thought of before. For example, in the Netherlands, a franchisee of many Domino’s locations gave its employees the option to be paid in Bitcoin.
According to a report from Cointelegraph, Immensus Holding, a chain of 16 Domino’s Pizza locations, is now giving its employees the possibility to receive all salary above the country’s minimum wage in BTC. The payments will be handled by BTC Direct, a Dutch crypto-firm with a flat-to-crypto onramp if more than 1000 employees decide to participate.
Could this be just the start of a trend?
“We are a modern company, and we work with a lot of young employees,” Immensus co-owner Jonathan Gurevich said. “We hear them talking about Bitcoin and we want to offer the opportunity to own cryptocurrency.”
In the Netherlands, the law requires companies to pay employees the minimum wage in euros. As for the minimum monthly wage, it depends on age, as well as the number of hours worked every month. However, workers between 15 and 18 usually earn more than the minimum amount working at Domino’s, so they could pocket some Bitcoin each month if this payment method goes through.
“A monthly Bitcoin salary can be compared to dollar-cost averaging into Bitcoin,” BTC Direct’s Jerrymie Marcus believes. “So all the benefits are the same, you don’t have to time the market, and in the long run you cancel out short and mid-term volatility. This actually benefits the employees, they save value automatically in an ever-increasing asset.”
A very interesting coincidence
Immensus’ announcement coincides with this week’s 11th anniversary of the first documented crypto commercial transition. Specifically, we’re talking about Bitcoin Pizza Day, the moment marking a purchase of two Papa John’s pizzas for 10,000 BTC.
Back in 2010, Laszlo Hanyecz announced that he’s willing to give the entire amount to anybody who would bring him two pizzas at his place. The transaction was indeed successful and he got his pizzas, but nowadays those two pizzas are worth hundreds of millions of dollars.
It will be interesting to observe if other companies will opt for paying salaries in Bitcoin, but also if holders won’t be as hesitant as now when it comes to using BTC as a medium of exchange.