Wednesday, February 8, 2023

Is there a salary or wage effect on the price of Bitcoin?

A few questions and thoughts about a salary or wage effect on the price of Bitcoin?...
  1. With people choosing to be paid their salary and wages in Bitcoin, is there a notable effect on the price of Bitcoin? This means someone who is paid in Bitcoin may then choose to sell that Bitcoin or parts into fiat currency.
  2. If there is an effect, will this become stronger and more notable overtime as Bitcoin adoption increases?
  3. If x number of people are being paid in Bitcoin, does this mean there is a spike in Bitcoins being purchased for salary and wages to be paid by companies?
  4. If x number of people are being paid in Bitcoin, how many of those people either save/HODL their Bitcoin or decide to sell their Bitcoin into fiat money?
  5. Can these buying and selling periods be correlated at certain times of each month, e.g beginning, middle of end of the months to co-inside when people are paid and consequently cash out?
  6. Can AI such as OpenAI ChatGPT spot any correlations for a salary or wage effect on the price of Bitcoin?
Thoughts?

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