At the end of January 2022, Belgian member of parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin (BTC). To celebrate the anniversary of this experiment, Cointelegraph contacted a lawmaker to learn more about his experience.
In 2022, Beukelaer, who represents the Humanist Democratic Center (CDH) party, cited the example of New York City Mayor Eric Adams and how American politicians are working to make their native states or cities centers of Bitcoin to justify his decision. The monthly salary of the Brussels parliamentarian of 5,500 euros (6,140 dollars) was going to be converted to Bitcoin using the Bit4You cryptocurrency trading platform.
Related: Belgium says BTC, ETH and other decentralized currencies are not securities
“I made this political act of paying in Bitcoin to defend political ideas,” shares Beukelaer, citing four: defending financial freedom and economic opportunities and combating financial illiteracy and the growth model. The latter is perhaps the most interesting, as the lawmaker, who calls himself a "pragmatic environmentalist", sees a clear link between Bitcoin and the environmental clause:
“What does the central bank do when it prints money like it has in recent years? It gives the illusion of infinite resources and therefore encourages all economic actors to produce and consume more and more.
Beukelaer sees his experiment as successful both in putting Belgium on the global crypto map and in encouraging local officials to educate themselves about digital assets:
“Many politicians said to themselves: 'De Beukelaer is not an anarchist. If he's interested in Bitcoin, there must be something interesting behind it.'”
Was it comfortable in practical terms? The positive response is hardly imaginable, given BTC's plunge from nearly $38,000 in January 2022 to $17,246 at press time in January 2023, but the MP did not view his experiment as an economic strategy from the start:
“It was a political act and not a financial gesture. Like those who grow mustaches in November to fight prostate cancer. I put this Bitcoin salary in a cold wallet every month and haven't touched it. My goal was not to live in cryptocurrencies.”
As the first big step towards pan-European regulation is taken, Beukelaer highlights the reservations of the Markets in Crypto Assets (MiCA) legislation: excessive restrictions placed on personal holding of cryptocurrencies or the way stablecoins are viewed.
Europe is headed for hard times, believes one politician, citing crises in energy supplies and the climate, and the rise of authoritarian leaders. It is in this sense that Western countries will gradually understand the usefulness of cryptocurrencies.
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