NYDIG, the bitcoin services and asset management provider that was formerly part of Stone Ridge, has announced the launch of a Bitcoin Savings Plan to let employees of leading companies get paid in bitcoin.
“Employees are asking to be #PaidInBitcoin, and we listened. With our new Bitcoin Savings Plan, companies can now offer an innovative compensation perk for employees to securely buy, sell, and hold Bitcoin without incurring any transaction or storage fees,” NYDIG said.
NFL superstar Drew Brees will be using this new service to convert a portion of his compensation to bitcoin. Several companies Drew is involved with will also be making the optional benefit available including Everbowl and StretchZone, the company said.
“In its 13-year history, Bitcoin has been an inclusive vehicle for wealth creation, and a Bitcoin Savings Plan is one of the easiest ways to start saving,” Brees said.
Fertitta Entertainment, owned by hospitality business mogul Tilman Fertitta, will also be offering the option to employees of the Houston Rockets and to corporate employees of restaurant giant Landry’s.
“Embracing and quickly implementing impactful changes like this has always been one of our secrets to success,” said Tilman Fertitta, Owner and CEO of Fertitta Entertainment.
That’s in addition to publicly traded companies “like leading digital transformation solutions provider for financial services Q2, financial services companies like MVB Bank and Vantage Bank, PEOs like FullStack, technology/crypto companies like sustainable bitcoin miner Iris Energy and crypto data company The TIE, and direct-to-consumer companies like Burrow.”
The way this works is simple. Employees just choose what percentage they want to be paid in bitcoin and then NYDIG handles all the rest.
Apparently 36% of employees under 30 say they want part of their salary to be paid in bitcoin, presumably because that would be an easy way to save some each month, or indeed to dollar cost averaging.
Which means that all these people will be buying bitcoin to then give it to their employees, so bringing in new and sustained demand to crypto.
