Kraken: 30% of employees choose to pay in bitcoin, and some even retire early

Gold believer Peter Schiff claims that "people can't work to receive bitcoin wages." But in Kraken, more than one-third of employees do this, and they are not exceptions.

Schiff made this point when he debated Bitcoin with Bitcoin Standard author Saifedean Ammous. He also said that compared with gold, it is easier to believe that the government will ban Bitcoin.


Soon, the cryptocurrency exchange Kraken hit his face and said on Twitter that the company "paid wages for 250 employees in bitcoin in April." The company also said that more employees choose to use cryptocurrency as a salary every month.


Kraken also said that a former employee who chose Bitcoin for wages in 2012 was retired in 2013.

Since Kraken currently has about 800 employees, this is a big percentage, about 30%.

In response to Kraken's tweet, Schiff pointed out that this was wrong. He said that unless the employee's salary is a fixed amount of bitcoin, if their salary is in US dollars, and thus the equivalent of bitcoin, it will not count.

What he said is very reasonable. Most people's monthly salary is fixed, and the volatility of Bitcoin does not apply to this. In addition, it is unlikely that any employer will provide wages denominated in bitcoin.

But when Bitcoin stabilizes and becomes a global reserve currency, the level of volatility we see today will be history. Many people can't take a few ounces of gold a month as a salary. This makes his point of view meaningless.

Interestingly, you can buy gold in Bitcoin on the Schiff website. Therefore, he must admit that bitcoin is not completely worthless.

There are many benefits to paying wages in bitcoin, especially as a simple entry point for a fixed monthly vote. Converting your monthly budget into legal currency is easy, and the remaining assets can be the best investment in 2019.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Bitcoin Hits $45,500 as Bulls Continue to Dominate

Bitcoin's strong price performance persists as it faces a crucial challenge to reach $45,000.


Cardano (ADA) Price Threatens Bearish Breakout Amid Stagnating TVL

With a recent rebound back towards $0.50, the Cardano (ADA) price has shown resilience following a brief dip below $0...


Bitcoin Price Takes a Tumble, Plunges Below $41,000 Is It Just a Bump in the Road or the Start of a Rollercoaster Ride?

Bitcoin Dips Below $41,000, Market Correction Hits Ethereum, XRP, and Cardano with 5% Decline


Cardano Price Surges 8%: Here’s Why ADA Could Reach New Highs in 2024

In the past 24 hours, the Cardano price has experienced a significant increase of over 8% and is currently at $0.6202...


Blockchain User Activity Survey Ethereum Still Reigns, Who is Using Litecoin and Tron?

Cryptocurrency KOL Ignas conducted a survey on blockchain user engagement and compiled 7 important insights.


Webster's rating is constantly changing, asserting that Cardano is far stronger than EOS

Source: Shallot blockchain Weiss Ratings, a cryptocurrency rating agency, recently said that Cardano (ADA) is far str...