By Shelly Melancon (Switzerland)
Today, one of Domino Pizza’s franchises in the Netherlands has revealed that its workers would start receiving their payments in Bitcoin. A press release from the franchisee (Immensus holding) revealed that employees can now choose between receiving their salaries in Euros or Bitcoin provided their salaries are above the minimum wage of the country.
This franchisee owns 16 Domino Pizza locations out of about the 300 scattered across the country and has more than 1000 employees on its payroll. All the Bitcoin payments will be handled by BTC Direct, a leading cash-to-crypto exchange based in the country.
BTC Direct Will Handle The BTC Salary Payments for Immensus
Jonathan Gurevich, one of the owners of the franchisee said, “as a modern organization with several young employees, we hear them discussing cryptocurrencies and would like to give them the chance to own their digital currencies.” The Dutch labor law stipulates that the Euros is the means of payment for employees earning minimum wage. Even though age and number of work hours determine the minimum monthly wage in the Netherlands, most workers up to 18 years of age are more likely to work longer hours at the pizza chain than its required by labor laws in the country. Hence, they have a higher potential of earning tangible Bitcoins per month.
A Day in History – First Successful Commercial Transaction In Crypto
Immensus’s disclosure of providing its employees to earn in cryptocurrency couldn’t have come at a better time. It coincides with the 11th anniversary of the day someone paid 10,000 Bitcoin for two pizzas. Often called Bitcoin pizza day, it is the first successful record of a transaction using Bitcoin at papa john’s pizzas.
Unfortunately, it also coincides with the week when Bitcoin and many other altcoins declined by a double-digit percentage, with Bitcoin prices declining below $30K. Jerrymie Marcus, one of BTC direct’s communications manager, compared a Bitcoin salary with a dollar-cost averaging into Bitcoin. He further said that employees receiving their salary in Bitcoin will enjoy its optimal advantages provided he doesn’t attempt to time the market. He remarked that BTC is an asset whose save value will keep increasing and cancel out short and mid-term volatility.
11 years ago, Laszlo Hanyecz paid for two pizzas with 10,000 BTC at a time when even BTC enthusiasts and pizza lovers were unwilling to barter with Bitcoin. On May 18, 2021, popular educational crypto podcaster, Anthony ‘pomp’ Pompliano revealed that he’s set to launch a pizza hut that assists small businesses and a BTC development fund for human rights. But he said that customers can only use crypto credit cards as a means of payment and would decline to accept BTC for reasons he explained thus: “we would rather prefer that people raise money via declining cash and fund the BTC development than give up their BTC for pizza.”
There have been several institutional investors investing in Bitcoin following MicroStrategy and tesla’s announcement of investing in the leading cryptocurrency. While BTC price has declined this week, it remains an attractive asset for crypto bulls and most aspiring investors.
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