Kraken paid 250 employees in Bitcoin in April: 'More opting for crypto'

24 May, 2019 | Updated: 24 May, 2019
by Jelmer van der Dussen
News
Kraken paid 250 employees in Bitcoin in April: 'More opting for crypto'

Cryptocurrency exchange Kraken has paid 250 employees their salaries in Bitcoin in April. That's more than 25% of their staff.

Kraken shared the details on Twitter earlier today, following a claim by Bitcoin pessimist and gold bull Peter Schiff that 'there is no way that people are going to work for salaries that are paid in Bitcoin'.

In a discussion with Bitcoin bull Tone Vays about BTC vs gold, Schiff said: "What Bitcoin needs to operate is the confidence that anyone is going to want it in the future. Which I don't believe is going to happen."



"The most important part of money, apart from the fact that it could be a medium of exchange, and a unit of account, which Bitcoin cannot... There is no way prices can be denominated in Bitcoin, that people are going to work for salaries paid in Bitcoin, that people are going to buy bonds, denominated in Bitcoin, that people are going to buy life insurance policies, where their premiums are paid in Bitcoin. None of this is ever going to work, which you have to have to be money", Schiff said.

Kraken came out on Twitter to counter Shiff's argument that no salaries will ever be paid in Bitcoin. The exchange said that 'we respect the quest for sound money, but Peter Schiff is wrong. Kraken paid 250 salaries in Bitcoin in April and more employees are opting for crypto every month.'

Kraken added a comment stating that 'the employee who took 100% Bitcoin in 2012, retired in 2013'.

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Read more about: Bitcoin (BTC) Kraken

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