Domino’s Pizza Franchisee in Netherlands to Pay Staff Salary in Bitcoin
A Domino’s Pizza licensee in the Netherlands revealed today that its staff would be able to choose whether or not they want get paid in Bitcoin. Staff can opt for payment in euros or Bitcoin (BTC) on all salaries over than the region’s basic wage, as per Immensus Holding, the licensee behind 16 Domino’s Pizza franchises in the Netherlands out of a total of over 270.
BTC Direct, a cryptocurrency firm with a fiat-to-crypto onramp headquartered in the Netherlands, can manage the payments for those of the company’s over 1000 employees who want to participate.
Immensus co-owner Jonathan Gurevich, said “We are a modern company, and we work with a lot of young employees. We hear them talking about Bitcoin and we want to offer the opportunity to own cryptocurrency.”
Employees must be paid the minimum wage in eurodollars, according to Dutch law. The country’s guaranteed monthly wage varies depending on age and hours employed, but employees aged 15 to 18 might end up earning more at the pizza chain than is allowed by law, theoretically netting a few Bitcoins per month.
The statement by Immensus that it will embrace BTC payments comes on the 11th anniversary of the very first fully recorded commercial cryptocurrency transaction, which was for two Papa John’s pizzas and has gained recognition as Bitcoin Pizza Day.
Nevertheless, it happens within a week of Bitcoin and several other cryptocurrencies plummeting by double digits, with BTC nearly falling below $30,000.
BTC Direct’s Jerrymie Marcus said “A monthly Bitcoin salary can be compared to dollar cost averaging into Bitcoin. So all the benefits are the same, you don’t have to time the market, and in the long run you cancel out short and mid term volatility. This actually benefits the employee, they save value automatically in an ever-increasing asset.”
People keep asking why we aren't accepting bitcoin for Bitcoin Pizza.
— Pomp 🌪 (@APompliano) May 18, 2021
Laszlo Hanyecz paid 10,000 BTC for such pizzas in 2010, which is now valued hundreds of millions of dollars. Also Bitcoin bulls and pizza enthusiasts, nevertheless, appear to be reluctant to use BTC as a means of trade.
Anthony ‘Pomp’ Pompliano, popular for his informative crypto podcasts, revealed on Tuesday that he was starting a pizza venture to help small businesses and the Human Rights Foundation’s Bitcoin Development Fund. Consumers at the Bitcoin Pizza company, on the other hand, can only transact with crypto cards.
“We don’t want people giving up their Bitcoin for pizza, but rather we are working to raise money in the form of depreciating fiat dollars to help fund Bitcoin development.”