Belgian MP Christophe De Beukelaer Converts Salary Into Bitcoin, Becomes First in Europe to Do So

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The trend of accepting salary payments in cryptocurrencies seems to be expanding among lawmakers in different parts of the world. Christophe De Beukelaer, from the Belgian capital of Brussels, has become the first politician from Europe to have converted his salary into Bitcoin tokens. The parliamentarian draws a monthly of EUR 5,500 (roughly Rs. 4.5 lakh), which amounts to BTC 0.17. At the time of writing, the cryptocurrency is trading for $36,416 (roughly Rs. 27 lakh) on international exchange CoinMarketCap.

Beukelaer has posted a thread on his Twitter handle, explaining that this is his way of showing his confidence in the crypto sector.

“US and Asian giants are investing heavily in crypto. And the EU? Are we still going to wake up in 10 years and find that we missed the train? Centralised trade finance is not going away. These two worlds must cooperate,” one of his tweets said.

The leader from Belgium’s Humanist Democratic Centre chose crypto trading platform Bit4You to exchange his salary for Bitcoins, a report by CoinTelegraph said.

However, this is not the first time that a lawmaker has decided to get his salary in the form of crypto assets.

In another one of his tweets, Beukelaer expressed gratitude towards Eric Adams, the mayor of US’ New York City for inspiring him to take this pro-crypto step.

Adams has chosen to take his salary as Bitcoins with the intent of bringing more pro-crypto measures in the NYC.

Previously, Francis Suarez, the mayor of Miami had made it to the headlines for preferring Bitcoin payments. Earlier last year, Suarez had said that Miami was planning to pay government employees their salaries in Bitcoin while also allowing citizens to pay city taxes using the cryptocurrency.

While the trend of getting paid in crypto assets is still picking up pace among politicians, it has already become popular among sports stars.

This month, NBA players Klay Thompson and Andre Iguodala decided to take some part of their next salaries in Bitcoin tokens

Billionaire investor Mark Cuban’s team Dallas Mavericks has been accepting payments using digital assets via BitPay since 2019.

In May 2019, Russel Okung from the National Football League (NFL) had become one of the first sportspersons to have demanded payment in Bitcoin. His demand was met with a year later in 2020.

In 2021, American footballers Aaron Rodgers along with Odell Beckham Jr. also decided to take their compensations in the form of Bitcoin tokens.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Elon Musk Says Twitter Introducing NFT Profile Pictures Is ‘Annoying’

Elon Musk Says Twitter Introducing NFT Profile Pictures Is ‘Annoying’

Elon Musk doesn’t appear to be amused with Twitter’s move to let users have verified non-fungible tokens (NFTs) as profile pictures. The SpaceX and Tesla CEO called the integration “annoying” and suggested Twitter was wasting engineering resources on this effort instead of trying to curb spam activity on the platform. Twitter recently began rolling out NFT features for its users, initially allowing its Twitter Blue subscribers on iOS to use NFTs as their profile pictures. The latest option is slightly different from the usual round-type display picture on Twitter. This one has a hexagonal shape.

Musk has previously extended support to blockchain technology, but he has also made public his displeasure when he disliked something. His recent criticism of Twitter’s NFT move is likely triggered by the rising crypto giveaway scams by people who impersonate the Tesla CEO and other notable figures.

The problem reached the point where Twitter had to block unverified accounts that changed their names to “Elon Musk” in 2018.

“This is annoying,” said Musk in a tweet on Twitter’s NFT decision.

He followed it with an explanation, “Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread.”

Twitter’s NFT tool debut comes months after it allowed users to send and receive Bitcoin. An NFT is a unit of data stored on a digital ledger, called a blockchain, which is also the underlying technology for cryptocurrency. As this technology evolved, NFTs came into prominence. NFTs come with certificates that are used to verify a digital asset to be unique. They can represent photos, videos, audio clips, and other types of digital files.

Musk has often expressed his acceptance of this emerging industry on social media and via his electric vehicle company. In March last year, Musk announced Tesla would accept payments in Bitcoin, but reversed that decision in May citing environmental concerns. Earlier this month, Tesla started accepting payments in Dogecoin for some merchandise.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.