Back

Swiss Media Giant Now Pays Its Employees in Bitcoin

News
Mon, 04/01/2019 - 18:29
  • Such a favorable attitude towards crypto is not surprising for those who work in Switzerland, the biggest crypto hub in the world. Some big-name Swiss companies already pay their workers in crypto, so Netzmedien AG decided to follow their lead    
     

Cover image via U.Today
Contents

Switzerland-based media behemoth Netzmedien AG is adapting to the new age of money by ditching fiat currencies in favor of crypto. From now on, all 30 employees of the publishing house will receive salaries in BTC, the company’s announcement states.

Must Read
Over 60 Percent of Crypto Fans Hate Getting Salary in Fiat Money: Survey - READ MORE

Workers choosing Bitcoin  

The decision to receive salaries in BTC was taken by employees themselves who unanimously opted to receive payment in Bitcoin. There was reportedly no opposition from any of the workers. So far, Bitcoin is the only available cryptocurrency, but Netzmedien AG also plans to add multiple altcoins, such as Ethereum, BitCoen and Jesus Coin.      

As reported by U.Today, 31 percent of workers would accept their salary in Bitcoin with men being more open to such an initiative.      

The company’s crypto bet

Marc Landis, who serves as the editor-in-chief at Netzmedien, claimed that the biggest Swiss companies in the likes of the SBB and Digitec Galaxus have already embraced Bitcoin salaries, which will make other companies follow suit. Fabian Pöschl, one of the long-term editors at Netzmedien AG, reveals that he’s glad that he doesn’t have to deal with cash anymore. In order to pay with crypto, he only needs his phone.

Heinrich Meyer, the CEO of Netzmedien AG, claims that they have already begun converting their assets to cryptocurrency for the sake of diversification. Meyer predicts that crypto will constitute more than half of their total holdings by 2022.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Recommended articles
Struggling Bitcoin Miners Have Little BTC Left to Sell: Tuur Demeester

Struggling Bitcoin Miners Have Little BTC Left to Sell: Tuur Demeester

People Need 'Enough Time' to Fully Understand Bitcoin: Digital Finance Group Chairman

People Need 'Enough Time' to Fully Understand Bitcoin: Digital Finance Group Chairman

‘Rich Dad, Poor Dad’ Author Explains Why He Supports Bitcoin

‘Rich Dad, Poor Dad’ Author Explains Why He Supports Bitcoin