In the most recent RNS released by Peter Wall, the CEO of Argo, he declared that he would start receiving his salary in Bitcoin. As a result, Argo has become one of the first publicly traded companies to pay their CEO in BTC. Several companies in the blockchain industry pay their employees in crypto, and now it seems it is starting to gain popularity among global brand employers as well.
The crypto mining company Argo Blockchain has made amenities for all of its employees to receive their salary in BTC in case they choose to. The company will rely on the Toronto-based Satstree exchange’s Bitcoin Savings service for the conversion and processing of Bitcoin at a daily market rate.
“We are the first publicly-traded company to pay their CEO in Bitcoin,” declared CEO Peter Wall. He said his salary would remain the same, having its basis in sterling pounds, and that at the end of the month, it would be converted, depending on the price.
“I would love to get a fixed salary in Bitcoin, but it’s a bit of a liability to the company […] if Bitcoin continues to appreciate then my salary would depreciate, and visa versa.”
Wall touched on several subjects on this RNS, such as the mining infrastructure that Argo is investing heavily in and the monthly revenue for the company, which has almost doubled when compared to January.
Argo is the first publicly-traded company to have its CEO being paid in Bitcoin, but several companies have been doing the same thing in order to pay the salaries of their employees for some time now. Many companies that operate in the blockchain space often pay their employees in a form of crypto – usually Bitcoin, Ethereum, or a stablecoin.
Some of the companies that are paying their employees, partially or fully, in crypto, are Uber and Airbnb. Facebook also allows for those working on the Libra project to receive their payment in its own cryptocurrency.