Franchisees of many Domino’s Pizza establishments in the Netherlands announced today that employees will be able to receive payment in Bitcoin.
According to Immensus Holding, the franchisee behind 16 Domino’s Pizza out of more than 270 in the Netherlands, employees will be able to choose between paying in euros or bitcoin (BTC) for all salaries above the national minimum wage. BTC Direct, a Dutch cryptocurrency company that has switched from fiat to cryptocurrency, will handle payments for some of the company’s more than 1,000 employees who choose to participate.
“We are a modern company and we work with many young employees,” said Jonathan Gurevich, co-owner of Immunity. “We hear them talk about bitcoin and we want to offer the opportunity to own cryptocurrency.”
Dutch law requires companies to pay their employees a minimum wage in euros. The national minimum wage depends on age and working hours, but in general, workers aged 15-18 can expect to earn more from the pizza chain than is required by local law, which means they can potentially earn some bitcoin. every month.
Immensus’ announcement that it will offer Bitcoin payments coincides with the 11th anniversary of the first successful registered cryptocurrency commercial transaction for Papa John’s Two Pizzas, an event now known as Bitcoin Pizza Day. However, this also happens in the same week that the price of bitcoins and many cryptocurrencies fell in double-digit percentage terms, with BTC almost below $ 30,000.
“The monthly bitcoin salary can be compared to the average dollar value in bitcoin,” said Jerrimi Marcus of BTC Direct. “So all the benefits are the same: you don’t need to synchronize the market, and in the long run, you eliminate volatility in the short and medium term. It really benefits employees, they automatically retain the value of an ever-increasing asset. ”
In 2010, buying Laszlo Hanek’s pizza cost him 10,000 BTC, which is now worth hundreds of millions of dollars. However, even some Bitcoin bulls and pizza lovers seem reluctant to use BTC as an exchange.
On Tuesday, Anthony “Pomp” Pompliano, known for his educational podcasts on cryptography, announced that he is launching a pizza company that aims to support small businesses and the Human Rights Foundation’s Bitcoin Development Fund. However, Bitcoin Pizza customers can only use cryptocurrency for payment. Later, Pomp explained why he does not accept BTC:
“We don’t want people to give up bitcoin for pizza, but rather we are working to raise money in the form of a weakening paper dollar to help fund the development of bitcoin.”