Bitcoin (BTC), Cryptocurrency, News

CEO Of Agro Blockchain Company Becomes First Openly-Traded Company Executive To Be Paid In BTC

History has been made by the CEO of a crypto-miner company as the first executive to a company traded publicly to collect his salary in Bitcoin.

On Wednesday, the crypto mining company named Agro Blockchain sitting in London has announced that their CEO, Peter Wall, will be the first executive in their company, being a publicly-traded company to receive his full salary in BTC.

Peter Wall Made History With His Decision

According to the update of their operation in February, the company – listed on the LSE (London Stock Exchange) with the ticker ARB – revealed that as of the beginning of the week, Peter Wall will begin to collect his salary in crypto and that any member of the executive team can choose to follow suit either in part or in full.

As also revealed in an interview, Wall said that his decision was quite obvious for Agro, who mined about 130 BTC in the previous month and altogether has 599 BTC in their credit.

He continued, “waking up in the middle of the night, I said to myself, why should I get paid in fiat currency? Why don’t I get paid in crypto or even BTC precisely?”

He, however, pointed to Russel Okung, an NFL player, as his extra source of inspiration. Some certain news release reported that the player would be collecting a portion of his salary in BTC late last year. But in reality, he is using a service to convert his salaries.

Employees and Stakeholder to emulate Wall

In contrast, Agro will be paying Wall in BTC, and it is going to be directly from the company’s coffers. Peter Wall, however, reported that his employees have a strong interest in this move as well, and he anticipated that they would take the offer. Though the employees’ salaries will be denominated and recorded in fiat, the crypto aggregate will be calculated with the rate on Satstreet’s exchange.

He added that beyond the employees, some stakeholders in the company are ready to emulate him. He concluded his interview by saying, “The payment structure is already evolving, and Agro as a company is happy to be at the forefront of the evolution.”

Leave a Reply

Your email address will not be published. Required fields are marked *