Bitcoin Makes Significant Foray Amongst World's Political Elite As Lawmakers Increasingly Take Salaries In BTC

• A Belgian MP is set to accept his salary in BTC. 
• He has hopes of turning Belgium into the blockchain hub of Europe.
• Bitcoin’s popularity has spiked despite the falling value of the asset.

A member of parliament in Belgium, Christophe De Beukelaer, has announced that he would be taking his full salary in Bitcoin. The decision would make him the first politician to do so in Europe.

The Dawn Of A Revolution

Christophe De Beukelaer announced his decision on his blog towards the close of the week. He expressed his belief that blockchain technology was going to incite a revolution, similar to what was observed with the advent of the internet. It is his earnest belief that every sphere of life is going to be impacted by the new wave of technology.

“With the Blockchain, we are at the dawn of a revolution of the same order as what we experienced with the Internet 30 years ago. All sectors, starting with finance, insurance, and governance, will be disrupted and we must prepare for it.”

De Beukelaer noted that institutions outside Europe were already gaining exposure to the nascent market to maximize what they perceived to be a once-in-a-lifetime opportunity. He added that politicians had a duty to make the populace aware of the coming changes. “Adoption is going to be exponential,” read the post, as the politician revealed that Europe could no longer turn a blind eye to blockchain technology.

De Beukelaer disclosed that with this step, he hopes to show faith in the fast-rising technology, incite economic and political actors to take an interest in the blockchain, and facilitate an overview of the present monetary system. The MP believes that despite uncertainties, the “strengths” (accessibility, transparency, sovereignty, no intermediaries…) of the crypto world would see the asset class stand the test of time.

“I am the first in Europe, but not in the world, to want to shine the spotlight on cryptocurrencies with such an approach,” he said. “The new mayor of New York, Eric Adams, received his salary in Bitcoins for 3 months in order to make New York the Center of Bitcoin. I think it’s not too late for Brussels and Belgium to be at the forefront of the cryptocurrency industry.”

Rising Adoption

Christophe De Beukelaer is not the first politician in the world to make such a decision. Miami’s Mayor Francis Suarez, Tampa Bay’s Jane Castor, and New York’s Mayor Eric Adams have all made similar decisions recently while creating policies that would encourage blockchain-related activity growth in the region. Sports personalities like UFC heavyweight champion, Francis Ngannou have all begun accepting pay in BTC.

“Thanks to @NYCMayor for the inspiration. Just as you do for New York in the US, I want Brussels to become the leading city in Europe for #blockchain, #Crypto and #Web3. In 2022, I will be working on this. Full tilt,” said the Belgian MP in his attempt to follow US mayors.

Bitcoin’s dip might be in full swing, but its popularity is showing no sign of slowing down. The asset currently trades at $37,890 after reaching lows of less than $34,000 and is down by over 40% from highs of $68K. It is widely expected that the approval of a Bitcoin pure-play ETF could change the narrative of the asset’s price.

Source: Read Full Article