Bitcoin payment and salaries are becoming more common as the inflation rates increase and crypto becomes more popular. Recently, an Argentine lawmaker has proposed that employees in Argentina should be given the option to choose salaries in Bitcoin and other cryptocurrencies. The name of the lawmaker is Jose-Luis Ramon,, and he belongs to the lower house of the national congress. If this bill passes, then we might see heavy crypto adoption in the country due to their staggering inflation rates.
The reason for the proposal
Jose-Luis Ramon had a very simple idea regarding why this is necessary. For an employee who is dependent on his salary, it becomes important to protect his purchasing power. And in the case of fiat, the inflation rates are so high that the value of one’s money decreases significantly over time. So, by offering the option to receive a salary in Bitcoin, employees are getting financial freedom.
The government is making it compulsory for service exporters to convert their earnings to pesos. And at present, the inflation rate of pesos is 50% which means that the value of your money becomes 1/2 every year. So, the need to have Bitcoin as a payment option is even more important in Argentina. We are scoffing at the US for a 21% inflation rate, consider the plight of the workers in Argentina.
Unless the employees there receive their salary in Bitcoin, it will be impossible for them to buy a new house, a car or basically anything essential. Bitcoin is the path to financial freedom for the people of Argentina and Ramon understands that.
What are your thoughts on the proposal of offering a salary in Bitcoin to employees in Argentina? And do you think this will solve their problems? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.