Employees in Argentina might soon receive salary in Bitcoin
As inflation rates rise and cryptocurrency becomes more popular, Bitcoin payments and salaries are more common.
A lawmaker from Argentina suggested recently that employees in Argentina have the option of choosing their salaries in Bitcoin or other cryptocurrencies. Jose-Luis Ramon is the name of this lawmaker and he is a member of the lower house. Due to the high inflation rates, we may see heavy adoption of crypto in the country if this bill is passed.
The motivation for the proposal
Jose Luis Ramon had an easy explanation for why this is important. An employee who depends on his salary must protect his purchasing power. Inflation rates are so high in fiat that one’s money is subject to significant declines over time. Employees can have their salary paid in Bitcoin. This allows them to be financially independent.
The government has made it mandatory for service exporters that they convert their earnings into pesos. The current inflation rate for pesos stands at 50%, which means that your money will become 1/2 each year. In Argentina, Bitcoin is an even more essential payment option. While we are mocking the US for their 21% inflation rate, think about the hardships of the workers in Argentina.
It will be difficult for employees to purchase a house or a car if they don’t receive their salaries in Bitcoin. Ramon knows that Bitcoin is the way to financial freedom in Argentina.
What do you think about the idea of offering a Bitcoin salary to employees in Argentina Do you think it will solve their problems? Please let us know your thoughts in the comments section. If you find our content useful, please share it with friends.